USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 8.89% against the CAD and closed at 1.4202.
On the data front, Canada’s retail sales rose 0.3% on a monthly basis in February, compared to a revised rise of 0.6% in the prior month
In the Asian session, at GMT0300, the pair is trading at 1.4192, with the USD trading 0.07% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.4135, and a fall through could take it to the next support level of 1.4078. The pair is expected to find its first resistance at 1.4257, and a rise through could take it to the next resistance level of 1.4322.
Moving forward, traders would keep a watch on Canada’s consumer price index and the new housing price index, both for March, slated to release later today.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
