USD/CAD: Loonie marginally higher ahead of ... - GCI Financial Ltd

GCI Forex News - USD/CAD: Loonie marginally higher ahead of Canadian merchandise trade data

USDCAD Movement

For the 24 hours to 23:00 GMT, USD declined 0.14% against the CAD to close at 0.9769.

In the Asian session, at GMT0300, the pair is trading at 0.9767, with the USD trading marginally lower from yesterday?s close.

The pair is expected to find support at 0.9753, and a fall through could take it to the next support level of 0.9738. The pair is expected to find its first resistance at 0.9784, and a rise through could take it to the next resistance level of 0.9800.

The pair is expected to take cues by the release of international merchandise trade and housing starts data in Canada.

The currency pair is trading just below its 20 Hr moving average and well below its 50 Hr moving average.

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Source: http://forexnews.gcitrading.com/currencies/usdcad/usdcad-loonie-marginally-higher-ahead-of-canadian-merchandise-trade-data.htm

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