USDCAD Movement
On Friday, the USD traded a tad higher against the CAD to close at 1.1233.
In the Asian session, at GMT0400, the pair is trading at 1.1224, with the USD trading 0.08% lower from Friday’s close.
The pair is expected to find support at 1.1197, and a fall through could take it to the next support level of 1.1169. The pair is expected to find its first resistance at 1.1248, and a rise through could take it to the next resistance level of 1.1271.
Amid no economic releases from Canada today, investor sentiments would be governed by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
