Sat, Apr 20, 2024 @ 02:15 GMT
Facebook Mail RSS Twitter
HomeContributorsFundamental AnalysisLoonie Trading Lower, Ahead Of Canada's Retail Sales Data

Loonie Trading Lower, Ahead Of Canada’s Retail Sales Data

GCI Financial
By GCI Financial

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
GCI Financialhttp://www.gcitrading.com/
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.

Featured Analysis

Load more

Learn Forex Trading

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.

Contact us: contact@actionforex.com

© ActionForex.com © 2024 All rights reserved.