USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.39% against the CAD and closed at 1.3211.
On the data front, Canada’s consumer price inflation slowed to 0.1% on a yearly basis in July, more than consensus for a rise of 0.5% and compared to a level of 0.7% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3224, with the USD trading 0.10% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3161, and a fall through could take it to the next support level of 1.3097. The pair is expected to find its first resistance at 1.3260, and a rise through could take it to the next resistance level of 1.3295.
Moving ahead, traders would keep a watch on Canada’s ADP employment change for July, slated to release later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
