USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, USD declined 0.09% against the CAD to close at 0.9913.
In Canada, manufacturing shipments sales declined 0.9% (MoM) to $49.6 billion in January as against 0.6% growth in the December and against the market expectation of 0.6% rise.
In the Asian session, at GMT0400, the pair is trading at 0.9908, with the USD trading 0.05% lower from Friday’s close.
The pair is expected to find support at 0.9890, and a fall through could take it to the next support level of 0.9873. The pair is expected to find its first resistance at 0.9934, and a rise through could take it to the next resistance level of 0.9959.
Trading trends in the pair today are expected to be determined by wholesale sale data in Canada.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
