USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.57% against the CAD and closed at 1.3488.
In the Asian session, at GMT0300, the pair is trading at 1.3489, with the USD trading marginally higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3419, and a fall through could take it to the next support level of 1.3349. The pair is expected to find its first resistance at 1.3528, and a rise through could take it to the next resistance level of 1.3567.
With no economic release in Canada today, traders will now closely await nation’s GDP growth figures for the first quarter as well as March, along with manufacturing PMI data for May, all scheduled to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
