USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.1% against the CAD and closed at 1.3511.
In economic news, Canada’s Markit manufacturing PMI declined to a level of 55.1 in May, compared to a reading of 55.9 in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 1.3509, with the USD trading slightly lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3478, and a fall through could take it to the next support level of 1.3448. The pair is expected to find its first resistance at 1.3533, and a rise through could take it to the next resistance level of 1.3558.
Moving ahead, investors will await the release of Canada’s unemployment rate, housing starts and building permits data, all scheduled to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
