USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CAD and closed at 1.2562.
On the macro front, Canada’s wholesale sales fell 0.5% in June, meeting market expectations and compared to a revised rise of 1.0% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2558, with the USD trading slightly lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2536, and a fall through could take it to the next support level of 1.2515. The pair is expected to find its first resistance at 1.2593, and a rise through could take it to the next resistance level of 1.2629.
Ahead in the day, market participants will keep a close watch on Canada’s retail sales data for June.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
