USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.23% against the CAD and closed at 1.3622.
In economic news, Canada’s RBC manufacturing PMI dropped to a level of 53.6 in December, compared to a level of 54.9 in the prior month. Moreover, the nation’s MLI leading indicator remained unchanged at -0.1% in November.
In the Asian session, at GMT0400, the pair is trading at 1.3636, with the USD trading 0.10% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3582, and a fall through could take it to the next support level of 1.3529. The pair is expected to find its first resistance at 1.3676, and a rise through could take it to the next resistance level of 1.3717.
Amid lack of major economic releases in Canada today, investor sentiment would be determined by global macroeconomic events.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
