USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.45% against the CAD to close at 1.0881, following the release of the minutes from the Fed’s March 18-19 policy meeting, which dampened growing expectations that the Fed would start raising its interest rates in the near future
In the Asian session, at GMT0300, the pair is trading at 1.0895, with the USD trading 0.13% higher from yesterday’s close.
The pair is expected to find support at 1.0853, and a fall through could take it to the next support level of 1.0812. The pair is expected to find its first resistance at 1.0940, and a rise through could take it to the next resistance level of 1.0986.
Later today, the Statistics Canada is scheduled to publish data on Canada’s new housing price index for February.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
