USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.59% against the CAD to close at 1.3180.
In economic news, Canada’s consumer price index fell more-than-expected by 0.2% MoM in September, compared to a flat reading in the prior month. Investors had expected it to drop 0.1%.
Also, the Bank of Canada’s core consumer price index rose less-than-expected by 0.2% MoM in September, after increasing by a similar percentage in August, while markets anticipated it to advance 0.3%.
In the Asian session, at GMT0400, the pair is trading at 1.3154, with the USD trading 0.2% lower from Friday’s close.
The pair is expected to find support at 1.3062, and a fall through could take it to the next support level of 1.2969. The pair is expected to find its first resistance at 1.3223, and a rise through could take it to the next resistance level of 1.3292.
Amid no economic releases in Canada today, investor sentiment would be governed by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
