For the 24 hours to 23:00 GMT, the USD rose 6.44% against the CAD and closed at 1.3882.
In the Asian session, at GMT0300, the pair is trading at 1.3902, with the USD trading 0.14% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3868, and a fall through could take it to the next support level of 1.3835. The pair is expected to find its first resistance at 1.3930, and a rise through could take it to the next resistance level of 1.3959.
Looking ahead, traders would keep a watch on Bank of Canada’s (BoC) interest rate decision, slated to release later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
