USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.27% against the CAD and closed at 1.3186.
In economic news, Canada’s seasonally adjusted Ivey PMI unexpectedly contracted to its lowest level in 4.5 years to 48.2 in October, defying market expectations for an advance to a level of 54.4. In the prior month, the PMI had registered a level of 48.7.
In the Asian session, at GMT0400, the pair is trading at 1.3196, with the USD trading 0.08% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3168, and a fall through could take it to the next support level of 1.3139. The pair is expected to find its first resistance at 1.3211, and a rise through could take it to the next resistance level of 1.3225.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
