USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.16% against the CAD and closed at 1.3305.
In economic news, Canada’s seasonally adjusted Ivey PMI climbed to a level of 54.2 in July, compared to a reading of 52.4 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3282, with the USD trading 0.17% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3255, and a fall through could take it to the next support level of 1.3228. The pair is expected to find its first resistance at 1.3327, and a rise through could take it to the next resistance level of 1.3372.
Trading trend in the Loonie today, is expected to be determined by Canada’s new housing price index for June, slated to release later in the day.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
