USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 6.07% against the CAD and closed at 1.3833 on Friday.
In the Asian session, at GMT0400, the pair is trading at 1.3847, with the USD trading 0.10% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.3722, and a fall through could take it to the next support level of 1.3598. The pair is expected to find its first resistance at 1.3983, and a rise through could take it to the next resistance level of 1.4120.
With no macroeconomic releases in Canada today, investor sentiment would be determined by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
