USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.45% against the CAD to close at 1.0432. The Canadian Dollar advanced against the US Dollar after an official report revealed that the Canada’s Gross Domestic Product (GDP) advanced 0.3% (MoM) in August, more than analysts’ expectations for a 0.2% rise and compared to previous month’s increase of 0.6%.
In the Asian session, at GMT0400, the pair is trading at 1.0431, with the USD trading tad lower from yesterday’s close.
The pair is expected to find support at 1.0396, and a fall through could take it to the next support level of 1.0361. The pair is expected to find its first resistance at 1.0479, and a rise through could take it to the next resistance level of 1.0527.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
