For the 24 hours to 23:00 GMT, the USD declined 0.87% against the CAD and closed at 1.3225.
The Bank of Canada, in its September interest rate decision, decided to leave its key interest rate steady at 1.75%, as widely expected. However, the central bank did not provide any further course of action of its longer-term plans, but the effects of global economic slowdown suggested that the bank would consider monetary policy easing in coming months.
In the Asian session, at GMT0300, the pair is trading at 1.3222, with the USD trading a tad lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3180, and a fall through could take it to the next support level of 1.3139. The pair is expected to find its first resistance at 1.3301, and a rise through could take it to the next resistance level of 1.3381.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
