Loonie Trading Lower This Morning
GCI Financial | Apr 14, 2015 02:41AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.23% against the CAD to close at 1.2594, reversing its previous session losses.
In the Asian session, at GMT0300, the pair is trading at 1.2578, with the USD trading 0.12% lower from yesterday’s close.
The pair is expected to find support at 1.2544, and a fall through could take it to the next support level of 1.2509. The pair is expected to find its first resistance at 1.2630, and a rise through could take it to the next resistance level of 1.2681.
Amid a weak economic calendar in Canada today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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