Loonie Trading On A Weaker Footing In The Morning Session
GCI Financial | Oct 13, 2015 01:40AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.41% against the CAD to close at 1.3002.
In the Asian session, at GMT0300, the pair is trading at 1.3057, with the USD trading 0.42% higher from yesterday’s close.
The pair is expected to find support at 1.2950, and a fall through could take it to the next support level of 1.2844. The pair is expected to find its first resistance at 1.3114, and a rise through could take it to the next resistance level of 1.3172.
Moving ahead, investors will pay close attention to Canada’s existing home sales data for September, to be released later this week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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