For the 24 hours to 23:00 GMT, the USD declined 0.3% against the CAD and closed at 1.2761.
The Canadian Dollar gained ground against the USD, amid growing optimism over a North American Free Trade Agreement (NAFTA) trade deal.
In the Asian session, at GMT0300, the pair is trading at 1.2764, with the USD trading slightly higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2724, and a fall through could take it to the next support level of 1.2684. The pair is expected to find its first resistance at 1.2826, and a rise through could take it to the next resistance level of 1.2888.
Moving ahead, Canada’s international merchandise trade balance data for February, scheduled to release later today, will be on investors’ radar.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
