USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.25% against the CAD and closed at 1.2779.
On the macro front, Canada’s wholesale sales surprisingly eased 1.2% on a monthly basis in September, confounding market consensus for a gain of 0.6%. In the prior month, wholesale sales had risen by a revised 0.4%.
In the Asian session, at GMT0400, the pair is trading at 1.2771, with the USD trading 0.06% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2734, and a fall through could take it to the next support level of 1.2698. The pair is expected to find its first resistance at 1.2822, and a rise through could take it to the next resistance level of 1.2874.
With no macroeconomic releases ibn Canada today, investor sentiment would be determined by global macroeconomic factors.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
