USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.67% against the CAD to close at 1.3183, ahead of a speech by the Fed Chairwoman, Janet Yellen.
In the Asian session, at GMT0300, the pair is trading at 1.3191, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.3147, and a fall through could take it to the next support level of 1.3103. The pair is expected to find its first resistance at 1.3256, and a rise through could take it to the next resistance level of 1.3320.
Moving ahead, investors will look forward to Canada’s industrial product price and raw material price indices data, both for the month of February, scheduled to release later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
