USD/CAD: Canada’s manufacturing sector activity edged up in September


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.18% against the CAD and closed at 1.2515.

On the data front, Canada’s Markit manufacturing PMI climbed to a level of 55.0 in September, compared to a reading of 54.6 in the preceding month.

In the Asian session, at GMT0300, the pair is trading at 1.2529, with the USD trading 0.11% higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.2496, and a fall through could take it to the next support level of 1.2464. The pair is expected to find its first resistance at 1.2549, and a rise through could take it to the next resistance level of 1.2570.

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

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