USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.26% against the CAD to close at 1.0967.
In economic news, June wholesale sales advanced 0.6% in Canada, on a monthly basis, beating market expectations for a rise of 0.4%. It had advanced by a revised 2.3% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.0981, with the USD trading 0.13% higher from yesterday’s close.
The pair is expected to find support at 1.0945, and a fall through could take it to the next support level of 1.0909. The pair is expected to find its first resistance at 1.1001, and a rise through could take it to the next resistance level of 1.1021.
Amid lack of economic releases from Canada today, market participants await the crucial Canada’s consumer prices and retail sales data, scheduled for release tomorrow.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
