USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.73% against the CAD to close at 1.0286. The Canadian Dollar had benefitted from the rise in crude oil prices.
In the Asian session, at GMT0300, the pair is trading at 1.0297, with the USD trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 1.0246, and a fall through could take it to the next support level of 1.0195. The pair is expected to find its first resistance at 1.0362, and a rise through could take it to the next resistance level of 1.0427.
Trading trends in the pair today are expected to be determined by the scheduled international merchandise trade data in Canada and other economic releases from the US.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
