USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.4% against the CAD and closed at 1.2491.
In the Asian session, at GMT0400, the pair is trading at 1.2487, with the USD trading a tad lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2466, and a fall through could take it to the next support level of 1.2444. The pair is expected to find its first resistance at 1.2527, and a rise through could take it to the next resistance level of 1.2566.
This afternoon would bring a crucial Canadian release, namely the unemployment rate data for December.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
