USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.24% against the CAD to close at 1.3249.
Macroeconomic data released showed that the Canadian wholesale sales stagnated on a monthly basis in July, compared to market forecasts for a gain of 0.8%.
In the Asian session, at GMT0300, the pair is trading at 1.3239, with the USD trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 1.3186, and a fall through could take it to the next support level of 1.3133. The pair is expected to find its first resistance at 1.3279, and a rise through could take it to the next resistance level of 1.3320.
Meanwhile, Canada’s retail sales data, scheduled for tomorrow, would grab lot of market attention.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
