USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.21% against the CAD and closed at 1.3120 on Friday.
In the Asian session, at GMT0400, the pair is trading at 1.3141, with the USD trading 0.16% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.3112, and a fall through could take it to the next support level of 1.3082. The pair is expected to find its first resistance at 1.3169, and a rise through could take it to the next resistance level of 1.3196.
This afternoon will bring a crucial Canadian release i.e. existing home sales data for December.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
