USDCAD Movement
On Friday, the USD rose 0.18% against the CAD to close at 1.1277, following encouraging economic data from the US.
On the macro front, the consumer price index in Canada advanced 0.1% on a monthly basis in September, at par with market expectations and following a flat reading registered in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.1278, with the USD trading marginally higher from Friday’s close.
The pair is expected to find support at 1.1226, and a fall through could take it to the next support level of 1.1174. The pair is expected to find its first resistance at 1.1312, and a rise through could take it to the next resistance level of 1.1346.
Amid a relatively quiet day in terms of economic releases from Canada today, trading trends in the CAD would be determined by global macroeconomic news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
