Loonie Trading Lower In The Asian Session
GCI Financial | Jan 29, 2015 01:51AM ET
For the 24 hours to 23:00 GMT, the USD rose 1.04% against the CAD to close at 1.2526.
In the Asian session, at GMT0400, the pair is trading at 1.2528, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.2441, and a fall through could take it to the next support level of 1.2353. The pair is expected to find its first resistance at 1.2577, and a rise through could take it to the next resistance level of 1.2626.
Going forward, market participants look forward to Canada’s crucial GDP data, scheduled tomorrow, 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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