USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.22% against the CAD to close at 0.9922.
In the Asian session, at GMT0300, the pair is trading at 0.9925, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9907, and a fall through could take it to the next support level of 0.9888. The pair is expected to find its first resistance at 0.9954, and a rise through could take it to the next resistance level of 0.9983.
Trading trends in the pair today are expected to be determined by the release of retail sales in Canada. Meanwhile, investors also eye the Bank of Canada’s (BOC) rate decision, in which the bank is expected to keep rates on hold at 1.0%.
The currency pair is trading in between its 20 Hr and 50 Hr moving averages.
