USDCAD Movement
On Friday, the USD traded marginally lower against the CAD to close at 1.2514.
In the Asian session, at GMT0400, the pair is trading at 1.2506, with the USD trading 0.07% lower from Friday’s close.
The pair is expected to find support at 1.2458, and a fall through could take it to the next support level of 1.2410. The pair is expected to find its first resistance at 1.2543, and a rise through could take it to the next resistance level of 1.2580.
Looking ahead, investors would keep a close on Canada’s RBC manufacturing PMI data, scheduled later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
