USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.33% against the CAD and closed at 1.3116.
Data showed that Canada’s consumer price index (CPI) rose 2.2% on an annual basis in November, at par with market expectations. In the prior month, the CPI had climbed 1.9%.
In the Asian session, at GMT0400, the pair is trading at 1.3117, with the USD trading marginally higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3088, and a fall through could take it to the next support level of 1.3059. The pair is expected to find its first resistance at 1.3161, and a rise through could take it to the next resistance level of 1.3205.
Moving ahead, traders would await Canada’s ADP employment change for November, slated to release later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
