USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.61% against the CAD and closed at 1.3292.
Data showed that Canada’s seasonally adjusted Ivey PMI climbed to a level of 59.7 in December, compared to a level of 57.2 in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.3288, with the USD trading slightly lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3251, and a fall through could take it to the next support level of 1.3213. The pair is expected to find its first resistance at 1.3348, and a rise through could take it to the next resistance level of 1.3407.
Trading trend in the Loonie today is expected to be determined by the release of Canada’s trade balance data for November, slated to release, later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
