USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.37% against the CAD and closed at 1.3438.
In economic news, Canada’s RBC manufacturing PMI declined to a level of 49.7 April, following a level of 50.5 in the prior month. Meanwhile, the nation’s MLI leading indicator rose 0.2% on a monthly basis in March, compared to a flat reading in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3444, with the USD trading slightly higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3393, and a fall through could take it to the next support level of 1.3343. The pair is expected to find its first resistance at 1.3478, and a rise through could take it to the next resistance level of 1.3513.
Amid lack of economic releases in Canada today, traders would focus on global macroeconomic events for further direction.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
