HomeContributorsFundamental AnalysisLoonie Trading A Tad Lower In The Morning Session

Loonie Trading A Tad Lower In The Morning Session

For the 24 hours to 23:00 GMT, the USD rose 0.58% against the CAD and closed at 1.2974.

In the Asian session, at GMT0400, the pair is trading at 1.2976, with the USD trading slightly higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.2908, and a fall through could take it to the next support level of 1.2841. The pair is expected to find its first resistance at 1.3022, and a rise through could take it to the next resistance level of 1.3069.

Later today, the release of Canada’s Ivey PMI for February, will be on closely monitored by market participants.

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

Learn Forex Trading

Risk/Reward Ratio

The EUR/USD