USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.10% against the CAD to close at 1.1025, despite the release of upbeat US pending home sales and Dallas Fed manufacturing data.
In the Asian session, at GMT0300, the pair is trading at 1.1023, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.1011, and a fall through could take it to the next support level of 1.0999. The pair is expected to find its first resistance at 1.1038, and a rise through could take it to the next resistance level of 1.1053.
Apart from global economic news, trader would also keep an eye on the US consumer confidence data and on the outcome of the US Fed two-day policy meeting, for further cues in the currency pair.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
