USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.11% against the CAD and closed at 1.2555.
On the data front, Canada’s manufacturing shipments grew 1.9% on a monthly basis in February, beating market consensus for a rise of 0.8%. Manufacturing shipments had fallen by a revised 1.3% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.2568, with the USD trading 0.10% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2538, and a fall through could take it to the next support level of 1.2507. The pair is expected to find its first resistance at 1.2589, and a rise through could take it to the next resistance level of 1.2609.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
