Loonie Extends Its Losses This Morning
GCI Financial | Mar 11, 2015 03:55AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.51% against the CAD to close at 1.2683.
In the Asian session, at GMT0400, the pair is trading at 1.2694, with the USD trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 1.2626, and a fall through could take it to the next support level of 1.2558. The pair is expected to find its first resistance at 1.2732, and a rise through could take it to the next resistance level of 1.2771.
Amid no economic releases in Canada today, investors await the release of Canada’s unemployment rate data, scheduled on Friday to get better insights in the nation’s economy.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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