USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined marginally against the CAD to close at 1.0011.
In the Asian session, at GMT0400, the pair is trading at 1.0004, with the USD trading marginally lower from yesterday’s close, as investors remain cautious ahead of a meeting of finance ministers from the G20.
The pair is expected to find support at 0.9991, and a fall through could take it to the next support level of 0.9977. The pair is expected to find its first resistance at 1.0022, and a rise through could take it to the next resistance level of 1.0039.
In Canada, investors await the release of manufacturing shipments data due later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
