USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.49% against the CAD and closed at 1.2896 on Friday.
The Canadian Dollar lost ground against the USD, after Canada’s annualised gross domestic product (GDP) advanced less-than-anticipated by 1.7% on a quarterly basis in the final three months of 2017, compared to market expectations for a rise of 2.0%. The nation’s GDP had registered a revised growth of 1.5% in the previous quarter.
In the Asian session, at GMT0400, the pair is trading at 1.2894, with the USD trading a tad lower against the CAD from Friday’s close.
The pair is expected to find support at 1.2842, and a fall through could take it to the next support level of 1.2790. The pair is expected to find its first resistance at 1.2931, and a rise through could take it to the next resistance level of 1.2968.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
