HomeContributorsFundamental AnalysisUSD/CAD: Loonie Trading Lower This Morning

USD/CAD: Loonie Trading Lower This Morning

For the 24 hours to 23:00 GMT, the USD declined 0.37% against the CAD to close at 1.3331.

In the Asian session, at GMT0300, the pair is trading at 1.3343, with the USD trading 0.09% higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.3309, and a fall through could take it to the next support level of 1.3276. The pair is expected to find its first resistance at 1.3388, and a rise through could take it to the next resistance level of 1.3434.

Going ahead, investors look forward to Canada’s industrial product price and raw material price index data for February, scheduled to release later today.

The currency pair is trading below 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.

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