USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.18% against the CAD to close at 0.9884.
The Loonie fell against greenback, after economic data released yesterday showed that ISM non-manufacturing index in the US fell to 53.5 in April, compared to 56.0 in previous month. Market had expected the index to drop to 55.5 in April.
In the Asian session, at GMT0300, the pair is trading at 0.9881, with the USD trading 0.03% lower from yesterday’s close.
The pair is expected to find support at 0.9842, and a fall through could take it to the next support level of 0.9804. The pair is expected to find its first resistance at 0.9906, and a rise through could take it to the next resistance level of 0.9932.
Trading trends in the pair today are expected to be determined by Ivey purchasing managers index (PMI) release in Canada.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
