Canadian Dollar Trading Lower Ahead Of The BoC Interest Rate Decision

Canadian Dollar Trading Lower Ahead Of The BoC Interest Rate Decision

For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 0.9944.

In the Asian session, at GMT0400, the pair is trading at 0.9949, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9925, and a fall through could take it to the next support level of 0.9900. The pair is expected to find its first resistance at 0.9964, and a rise through could take it to the next resistance level of 0.9979.

Investors keenly await the release of Bank of Canada (BoC) interest rate decision and the BoC rate statement.