Contributors Fundamental Analysis Loonie Trading Higher In The Morning Session

Loonie Trading Higher In The Morning Session

For the 24 hours to 23:00 GMT, the USD rose 8.08% against the CAD and closed at 1.4096 on Friday.

In the Asian session, at GMT0300, the pair is trading at 1.4071, with the USD trading 0.18% lower against the CAD from Fridays close.

The pair is expected to find support at 1.4023, and a fall through could take it to the next support level of 1.3976. The pair is expected to find its first resistance at 1.4119, and a rise through could take it to the next resistance level of 1.4168.

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

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