USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.58% against the CAD to close at 1.2877.
Canadian Dollar fell as the country’s consumer price index (CPI) rose less-than-expected by 0.4% MoM in May, compared to a 0.3% increase in the previous month, amid a deceleration in food price gains. Investors had expected it to register a 0.5% rise.
In the Asian session, at GMT0300, the pair is trading at 1.2838, with the USD trading 0.3% lower against the CAD from Friday’s close.
The pair is expected to find support at 1.2795, and a fall through could take it to the next support level of 1.2753. The pair is expected to find its first resistance at 1.2911, and a rise through could take it to the next resistance level of 1.2985.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
