Contributors Fundamental Analysis Loonie Trading On A Positive Footing This Morning

Loonie Trading On A Positive Footing This Morning

For the 24 hours to 23:00 GMT, the USD rose 2.30% against the CAD and closed at 1.3288.

In the Asian session, at GMT0400, the pair is trading at 1.3281, with the USD trading 0.05% lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.3267, and a fall through could take it to the next support level of 1.3253. The pair is expected to find its first resistance at 1.3305, and a rise through could take it to the next resistance level of 1.3329.

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

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