USDCAD Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the CAD and closed at 1.3020 on Friday.
In the Asian session, at GMT0400, the pair is trading at 1.3011, with the USD trading 0.07% lower against the CAD from Friday’s close.
The pair is expected to find support at 1.2975, and a fall through could take it to the next support level of 1.2939. The pair is expected to find its first resistance at 1.3062, and a rise through could take it to the next resistance level of 1.3113.
Amid a lack of economic releases in Canada today, trading trends in the CAD is expected to be determined by global macroeconomic events.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
