For the 24 hours to 23:00 GMT, the USD rose 0.14% against the CAD and closed at 1.2779.
On the data front, Canada’s international merchandise trade deficit widened more-than-estimated to C$2.69 billion in February, following a revised deficit of C$1.94 billion in the previous month. Market anticipation was for the nation to record a trade deficit of C$2.10 billion.
In the Asian session, at GMT0300, the pair is trading at 1.2754, with the USD trading 0.20% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2730, and a fall through could take it to the next support level of 1.2707. The pair is expected to find its first resistance at 1.2792, and a rise through could take it to the next resistance level of 1.2831.
Later in the day, traders would await Canada’s unemployment rate data for March.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
