USD/CAD: Loonie Reverses its Losses in the Asian Session
For the 24 hours to 23:00 GMT, the USD rose 0.07% against the CAD to close at 1.0650, following upbeat jobless claims data.
In the Asian session, at GMT0400, the pair is trading at 1.0634, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 1.0614, and a fall through could take it to the next support level of 1.0595. The pair is expected to find its first resistance at 1.0653, and a rise through could take it to the next resistance level of 1.0673.
With a void in economic releases from both the US and Canada, trading trends would likely be determined by factors on the global front.