USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.29% against the CAD to close at 1.0839.
In economic news, Canada posted a current account deficit of C$12.4 billion in the first quarter of 2014, the lowest level of deficit recorded since the fourth-quarter of 2011.
In the Asian session, at GMT0300, the pair is trading at 1.0834, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.0815, and a fall through could take it to the next support level of 1.0795. The pair is expected to find its first resistance at 1.0864, and a rise through could take it to the next resistance level of 1.0893.
Later today, the Statistics Canada is scheduled to publish Canada’s GDP, industrial product price and raw material price data.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
