USDCAD Movement
On Friday, the USD declined 0.12% against the CAD to close at 1.0368. The Canadian Dollar rose after the consumer price index (CPI) in Canada increased 1.2% annually in June, in line with the market expectations. Moreover, its core CPI climbed 1.3% (YoY) in June.
In the Asian session, at GMT0300, the pair is trading at 1.0360, with the USD trading marginally lower from Friday’s close.
The pair is expected to find support at 1.0342, and a fall through could take it to the next support level of 1.0323. The pair is expected to find its first resistance at 1.0387, and a rise through could take it to the next resistance level of 1.0413.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
