USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.69% against the CAD and closed at 1.3024.
Data indicated that Canada’s manufacturing shipments retreated 0.4% on a monthly basis in August, lower than market expectations for a drop of 0.6%. In the previous month, manufacturing shipments had advanced by a revised 1.20%.
In the Asian session, at GMT0300, the pair is trading at 1.3039, with the USD trading 0.12% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2972, and a fall through could take it to the next support level of 1.2905. The pair is expected to find its first resistance at 1.3076, and a rise through could take it to the next resistance level of 1.3113.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
