USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.64% against the CAD and closed at 1.3264 on Friday.
On the macro front, Canada’s unemployment rate unexpectedly rose to 5.9% in November, defying market expectations of an unchanged reading. In the previous month, the unemployment rate stood at 5.5%.
In the Asian session, at GMT0400, the pair is trading at 1.3264, with the USD trading flat against the CAD from Friday’s close.
The pair is expected to find support at 1.3201, and a fall through could take it to the next support level of 1.3137. The pair is expected to find its first resistance at 1.3299, and a rise through could take it to the next resistance level of 1.3333.
Trading trend in the Loonie today, is expected to be determined by Canada’s housing starts for November and building permits for October, slated to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
