USD/CAD: Canadian Dollar Trading Lower

USD/CAD: Canadian Dollar Trading Lower

For the 24 hours to 23:00 GMT, the USD rose 0.27% against the CAD to close at 0.9889.

In Canada, wholesale sales rose 0.9% in October to C$49.2 billion ($49.9 billion) after a revised 1.5% drop in September.

In the Asian session, at GMT0400, the pair is trading at 0.9890, with the USD trading marginally higher from yesterday’s close.

The pair is expected to find support at 0.9862, and a fall through could take it to the next support level of 0.9834. The pair is expected to find its first resistance at 0.9905, and a rise through could take it to the next resistance level of 0.9921.