USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CAD to close at 1.3963.
In the Asian session, at GMT0400, the pair is trading at 1.3934, with the USD trading 0.21% lower from yesterday’s close.
The pair is expected to find support at 1.3900, and a fall through could take it to the next support level of 1.3865. The pair is expected to find its first resistance at 1.3982, and a rise through could take it to the next resistance level of 1.4030.
Amid no economic releases in Canada today, investors look forward to the release of Canada’s GDP as well as retail sales data scheduled tomorrow for further direction in the CAD.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
