USD/CAD: Canada’s consumer price inflation remained steady in July


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD declined 0.25% against the CAD and closed at 1.3287.

In economic news, Canada’s consumer price index rose 2.0% on an annual basis in July, beating market expectations for a rise of 1.7%. In the previous month, the index had recorded a similar rise.

In the Asian session, at GMT0300, the pair is trading at 1.3300, with the USD trading 0.10% higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.3265, and a fall through could take it to the next support level of 1.3230. The pair is expected to find its first resistance at 1.3326, and a rise through could take it to the next resistance level of 1.3352.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

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