USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.66% against the CAD to close at 1.0185, as rising oil prices supported the Canadian Dollar.
The Statistics Canada indicated that the number of new motor vehicles sold in Canada declined 1.0% to 137,640 units in November.
In the Asian session, at GMT0400, the pair is trading at 1.0148, with the USD trading 0.36% lower from yesterday’s close.
The pair is expected to find support at 1.0114, and a fall through could take it to the next support level of 1.0080. The pair is expected to find its first resistance at 1.0209, and a rise through could take it to the next resistance level of 1.0270.
Trading trends in the pair today are expected to be determined by the release of the Bank of Canada Rate Decision.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
