Mon, Aug 02, 2021 @ 06:29 GMT
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Loonie Trading Lower, Ahead Of Canada’s Retail Sales Data

For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CAD and closed at 1.3297.

In the Asian session, at GMT0300, the pair is trading at 1.3315, with the USD trading 0.14% higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.3287, and a fall through could take it to the next support level of 1.3258. The pair is expected to find its first resistance at 1.3332, and a rise through could take it to the next resistance level of 1.3348.

Trading trend in the pair today is expected to be determined by Canada’s retail sales data for June, slated to release later in the day.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

GCI Financial
DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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