USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.15% against the CAD, on Friday, to close at 0.9932.
In the US, the Reuters/Michigan Consumer Sentiment Index rose to 60.9 in October compared to 59.4 in the previous month. Additionally, the personal income rose 0.1% in September, compared to 0.1% decline in August.
In the Asian session, at GMT0400, the pair is trading at 1.0004, with the USD trading 0.72% higher from Friday’s close.
The pair is expected to find support at 0.9931, and a fall through could take it to the next support level of 0.9857. The pair is expected to find its first resistance at 1.0042, and a rise through could take it to the next resistance level of 1.0079.
Trading trends in the pair today are expected to be determined by release of Gross Domestic Product (GDP) and industrial product price data in Canada.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
