USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.66% against the CAD and closed at 1.3202 on Friday.
Data showed that Canada’s unemployment rate unexpectedly declined to a 40-year low of 5.5% in September, defying market expectations for an unchanged reading. In the prior month, unemployment rate stood at 5.7%.
In the Asian session, at GMT0300, the pair is trading at 1.3212, with the USD trading 0.08% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.3157, and a fall through could take it to the next support level of 1.3101. The pair is expected to find its first resistance at 1.3282, and a rise through could take it to the next resistance level of 1.3351.
Amid lack of economic releases in Canada today, traders would focus on global macroeconomic events for further direction.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
