USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.73% against the CAD and closed at 1.3062 on Friday.
In the economic news, Canada’s consumer price index (CPI) climbed 3.0% on an annual basis in July, notching a 7-year high level and boosted by rising fuel and air transportation prices. In the prior month, the CPI had advanced 2.5%.
In the Asian session, at GMT0300, the pair is trading at 1.3064, with the USD trading marginally higher against the CAD from Friday’s close.
The pair is expected to find support at 1.3024, and a fall through could take it to the next support level of 1.2984. The pair is expected to find its first resistance at 1.3132, and a rise through could take it to the next resistance level of 1.3200.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
