USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.23% against the CAD to close at 1.0524.
In the Asian session, at GMT0300, the pair is trading at 1.0534, with the USD trading 0.10% higher from yesterday’s close.
The pair is expected to find support at 1.0484, and a fall through could take it to the next support level of 1.0435. The pair is expected to find its first resistance at 1.0571, and a rise through could take it to the next resistance level of 1.0609.
Today investors keenly eye the Canadian unemployment rate and net change in employment data to derive a clear picture of the job market in Canada. Separately, Ivey purchasing managers index and participation rate are also due for release later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
