USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.38% against the CAD and closed at 1.2831.
In the Asian session, at GMT0300, the pair is trading at 1.2825, with the USD trading 0.05% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2768, and a fall through could take it to the next support level of 1.2710. The pair is expected to find its first resistance at 1.2865, and a rise through could take it to the next resistance level of 1.2904.
This afternoon will bring a pair of crucial Canadian releases, namely consumer inflation for April and retail sales data for March.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
