USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CAD and closed at 1.3107.
Macroeconomic data revealed that Canada’s wholesale sales advanced 0.7% on a monthly basis in December, higher than market expectations for an advance of 0.4%. In the prior month, wholesale sales had recorded a revised rise of 0.1%.
In the Asian session, at GMT0400, the pair is trading at 1.3144, with the USD trading 0.28% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3096, and a fall through could take it to the next support level of 1.3047. 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 1.3193.
With no economic releases in Canada today, investor sentiment would be governed by global macroeconomic factors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
