USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.43% against the CAD and closed at 1.3264.
Data revealed that Canada’s manufacturing shipments dropped 0.2% on a monthly basis in September, less than market anticipation for a fall of 0.5%. In the previous month, manufacturing shipments had recorded a rise of 0.8%.
In the Asian session, at GMT0400, the pair is trading at 1.3280, with the USD trading 0.12% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3219, and a fall through could take it to the next support level of 1.3159. The pair is expected to find its first resistance at 1.3312, and a rise through could take it to the next resistance level of 1.3345.
Going ahead, investors would closely monitor Canada’s consumer price index for October, slated to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
