USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 8.37% against the CAD and closed at 1.4133.
In the Asian session, at GMT0300, the pair is trading at 1.4098, with the USD trading 0.25% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.4050, and a fall through could take it to the next support level of 1.4001. The pair is expected to find its first resistance at 1.4180, and a rise through could take it to the next resistance level of 1.4261.
Moving ahead, traders would keep a close eye on Canada’s Ivey Purchasing Managers’ Index for March, slated to release later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
