USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.42% against the CAD and closed at 1.4034.
In the Asian session, at GMT0400, the pair is trading at 1.4044, with the USD trading 0.07% higher from yesterday’s close.
The pair is expected to find support at 1.3953, and a fall through could take it to the next support level of 1.3862. The pair is expected to find its first resistance at 1.4130, and a rise through could take it to the next resistance level of 1.4216.
Looking ahead, investors will keep a close watch on Canada’s GDP, scheduled to be released in a few hours.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
