USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CAD and closed at 1.3100.
Data revealed that Canada’s CFIB business barometer advanced to a level of 61.5 in June, following a reading of 59.7 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3097, with the USD trading slightly lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3076, and a fall through could take it to the next support level of 1.3055. The pair is expected to find its first resistance at 1.3128, and a rise through could take it to the next resistance level of 1.3159.
Trading trend in the Loonie today, is expected to be determined by Canada’s gross domestic product for April, slated to release later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
