USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.30% against the CAD and closed at 1.3190.
Data revealed that Canada’s gross domestic product (GDP) climbed 1.4% on a yearly basis in May, expanding for the third consecutive month and higher than market anticipations for a rise of 1.3%. The GDP had recorded a revised gain of 1.6% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3206, with the USD trading 0.13% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3135, and a fall through could take it to the next support level of 1.3063. The pair is expected to find its first resistance at 1.3248, and a rise through could take it to the next resistance level of 1.3290.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
