USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.23% against the CAD and closed at 1.3164 on Friday.
In the Asian session, at GMT0400, the pair is trading at 1.3120, with the USD trading 0.33% lower against the CAD from Friday’s close, thereby pushing its Canadian counterpart higher.
The pair is expected to find support at 1.3083, and a fall through could take it to the next support level of 1.3047. The pair is expected to find its first resistance at 1.3184, and a rise through could take it to the next resistance level of 1.3249.
With no economic releases in Canada today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
