USDCAD Movement
For the 24 hours to 23:00 GMT, the USD marginally rose against the CAD to close at 1.0741.
In the Asian session, at GMT0300, the pair is trading at 1.0743, with the USD trading tad higher from yesterday’s close.
The pair is expected to find support at 1.0727, and a fall through could take it to the next support level of 1.0710. The pair is expected to find its first resistance at 1.0757, and a rise through could take it to the next resistance level of 1.0770.
Amid a lack of releases from Canada today, investors would shift their attention to tomorrow’s retail sales data from Canada.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
