USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.12% against the CAD, on Friday, to close at 1.0272, following reports showing strong consumer price data in Canada. On an annual basis, the Consumer Price Index (CPI) in Canada rose 2.9% in October, compared to a 3.2% increase in the previous month. Additionally, leading indicators in Canada rose 0.2% (MoM) in October, following 0.1% growth in September.
In the Asian session, at GMT0400, the pair is trading at 1.0290, with the USD trading 0.18% higher from Friday’s close.
The pair is expected to find support at 1.0225, and a fall through could take it to the next support level of 1.0161. The pair is expected to find its first resistance at 1.0328, and a rise through could take it to the next resistance level of 1.0367.
Trading trends in the pair today are expected to be determined by release of wholesale sales data in Canada.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
