Sun, Jan 17, 2021 @ 03:38 GMT
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Loonie Extends Its Gains In The Morning Session

For the 24 hours to 23:00 GMT, the USD declined 0.14% against the CAD and closed at 1.3358.

In the Asian session, at GMT0300, the pair is trading at 1.3334, with the USD trading 0.18% lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.3310, and a fall through could take it to the next support level of 1.3285. The pair is expected to find its first resistance at 1.3377, and a rise through could take it to the next resistance level of 1.3419.

Moving forward, traders would keep a watch on Canada’s housing starts for July, slated to release later today.

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

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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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