USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.76% against the CAD and closed at 1.3275.
On the data front, Canada’s consumer price index (CPI) advanced 0.4% on a monthly basis in May, surpassing market expectations for a rise of 0.1%. In the prior month, the CPI had registered a similar rise.
In the Asian session, at GMT0300, the pair is trading at 1.3243, with the USD trading 0.24% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3194, and a fall through could take it to the next support level of 1.3146. The pair is expected to find its first resistance at 1.3337, and a rise through could take it to the next resistance level of 1.3432.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
