USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, USD declined 0.06% against the CAD to close at 0.9910.
In Canada, official data indicated that the economy lost 30,400 jobs in July, disappointing expectations for a 9,600 rise and following a 7,300 increase in the previous month. Canada’s unemployment rate rose to 7.3% in July from 7.2% in the previous month. Analysts had expected the unemployment rate to remain unchanged in July.
In the Asian session, at GMT0300, the pair is trading at 0.9910, with the USD trading flat from Friday’s close.
The pair is expected to find support at 0.9887, and a fall through could take it to the next support level of 0.9865. The pair is expected to find its first resistance at 0.9951, and a rise through could take it to the next resistance level of 0.9993.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
