USD/CAD: Canada’s unemployment rate surprisingly declined in February


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD declined 0.58% against the CAD and closed at 1.2829 on Friday.

The Canadian Dollar advanced against the USD on Friday, after Canada’s unemployment rate unexpectedly eased to 5.8% in February, defying market expectations for it to remain at 5.9%.

In the Asian session, at GMT0400, the pair is trading at 1.2806, with the USD trading 0.18% lower against the CAD from Friday’s close.

The pair is expected to find support at 1.2770, and a fall through could take it to the next support level of 1.2733. The pair is expected to find its first resistance at 1.2876, and a rise through could take it to the next resistance level of 1.2945.

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

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