USDCAD Movement
On Friday, the USD declined 0.49% against the CAD to close at 1.0618.
In the Asian session, at GMT0400, the pair is trading at 1.0623, with the USD trading slightly higher from Friday’s close.
The pair is expected to find support at 1.0592, and a fall through could take it to the next support level of 1.0562. The pair is expected to find its first resistance at 1.0661, and a rise through could take it to the next resistance level of 1.0700.
During the later course of the day, the Statistics Canada is scheduled to report the trend in the nation’s raw material price index, along with Canada’s industrial product price data.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
