For the 24 hours to 23:00 GMT, the USD rose 7.30% against the CAD and closed at 1.3994.
In the Asian session, at GMT0400, the pair is trading at 1.3986, with the USD trading 0.06% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3878, and a fall through could take it to the next support level of 1.3771. The pair is expected to find its first resistance at 1.4056, and a rise through could take it to the next resistance level of 1.4127.
Ahead in the day, market participants would keep a close watch on Canada’s manufacturing sales for January.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
