For the 24 hours to 23:00 GMT, the USD rose 10.40% against the CAD and closed at 1.4398 on Friday.
On the data front, Canada’s retail sales rose 0.4% on a monthly basis in January, surpassing market expectations for an advance of 0.3% and compared to a flat reading in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.4430, with the USD trading 0.22% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.4224, and a fall through could take it to the next support level of 1.4017. The pair is expected to find its first resistance at 1.4563, and a rise through could take it to the next resistance level of 1.4695.
Looking ahead, investors would keep a watch on Canada’s wholesale sales for January, slated to release in a few hours.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
Roz has been engaged in the financial markets since 2017, specializing in Foreign Exchange, Before joining to FOREX IN WORLD she start to learn forex trading related information.