USDCAD Movement
On Friday, the USD declined 0.13% against the CAD to close at 1.2315.
In the Asian session, at GMT0300, the pair is trading at 1.2339, with the USD trading 0.19% higher from Friday’s close.
The pair is expected to find support at 1.2301, and a fall through could take it to the next support level of 1.2263. The pair is expected to find its first resistance at 1.2388, and a rise through could take it to the next resistance level of 1.2437.
Amid a light economic calendar in Canada today, investors would keep a close eye on the nation’s GDP data, which is slated to release tomorrow.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
