USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.30% against the CAD and closed at 1.3087 on Friday.
On the macro front, Canada’s leading indicator fell 0.3% on a monthly basis in December, compared to a fall of 0.1% in November. Moreover, the nation’s manufacturing PMI declined to a level of 53.0 in January, notching its lowest level since December 2016 and compared to a reading of 53.6 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.3097, with the USD trading 0.08% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.3058, and a fall through could take it to the next support level of 1.3019. The pair is expected to find its first resistance at 1.3147, and a rise through could take it to the next resistance level of 1.3197.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
