USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.25% against the CAD and closed at 1.3219.
On the data front, Canada’s building permits jumped by 10.4% on a monthly basis in August, rising at the fastest pace in six months, surpassing market expectations for an advance of 1.0% and following a revised rise of 3.4% In the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3238, with the USD trading 0.14% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3193, and a fall through could take it to the next support level of 1.3147. The pair is expected to find its first resistance at 1.3266, and a rise through could take it to the next resistance level of 1.3293.
Moving ahead, Canada’s unemployment rate and Ivey purchasing managers index, both for September along with the BoC’s business outlook survey report, all slated to release later in the day, would be on investor’s radar.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
