USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.17% against the CAD to close at 1.0033.
In Canada, gross domestic product rose 0.1% (MoM) in May, compared to a rise of 0.3% in April. Separately, industrial product price and raw materials price index fell 0.3% (MoM) and 4.0% (MoM), respectively, in June.
In the Asian session, at GMT0300, the pair is trading at 1.0027, with the USD trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 1.0006, and a fall through could take it to the next support level of 0.9984. The pair is expected to find its first resistance at 1.0046, and a rise through could take it to the next resistance level of 1.0064.
With no major release from Canada, the pair is expected to trade on trends in the greenback.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
