USDCAD Movement
For the 24 hours to 23:00 GMT, the USD added 0.13% against the CAD to close at 1.0348, ahead of Federal Reserve’s meeting minutes, which would provide fresh hints on when the central bank would start altering its asset purchases.
In the Asian session, at GMT0300, the pair is trading at 1.0369, with the USD trading 0.20% higher from yesterday’s close.
The pair is expected to find support at 1.0330, and a fall through could take it to the next support level of 1.0291. The pair is expected to find its first resistance at 1.0393, and a rise through could take it to the next resistance level of 1.0417.
Trading trends in the pair today are expected to be determined by release of wholesale sales data from Canada today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
