USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.07% against the CAD and closed at 1.2358.
In the Asian session, at GMT0300, the pair is trading at 1.2355, with the USD trading a tad lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.232, and a fall through could take it to the next support level of 1.2284. The pair is expected to find its first resistance at 1.2402, and a rise through could take it to the next resistance level of 1.2448.
Ahead in the day, all eyes will be on a speech by the Bank of Canada (BoC) Governor, Stephen Poloz.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
