USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.63% against the CAD and closed at 1.3312.
On the data front, Canada’s Markit manufacturing PMI unexpectedly climbed to 52.9 in July, defying market expectations for a drop to a level of 44.1 and compared to a reading of 47.8 in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3291, with the USD trading 0.16% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3243, and a fall through could take it to the next support level of 1.3195. The pair is expected to find its first resistance at 1.3380, and a rise through could take it to the next resistance level of 1.3469.
Moving ahead, traders would keep a watch on Canada’s international merchandise trade balance for June, slated to release later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
