For the 24 hours to 23:00 GMT, the USD declined 0.52% against the CAD and closed at 1.2706.
The Canadian Dollar gained ground against the USD, after a business survey by the Bank of Canada (BoC) supported expectations for further interest rate hikes.
The BoC, in its latest business outlook survey, stated that firms remain upbeat about future sales, business investment and hiring despite heightened trade uncertainties.
In the Asian session, at GMT0300, the pair is trading at 1.2680, with the USD trading 0.20% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2630, and a fall through could take it to the next support level of 1.2581. The pair is expected to find its first resistance at 1.2774, and a rise through could take it to the next resistance level of 1.2869.
Ahead in the day, traders would look forward to Canada’s housing starts data for March and building permits data for February.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
