USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.84% against the CAD to close at 1.3030 on Friday.
On the macroeconomic front, the net number of people employed in Canada rebounded more-than-expected by 26.2 K in August, compared to a loss of 31.2 K jobs in the prior month. However, the nation’s unemployment rate crept up to 7.0% in August, from 6.9% in the previous month, as more people entered the labour force and started looking for work.
In the Asian session, at GMT0300, the pair is trading at 1.3065, with the USD trading 0.27% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.2955, and a fall through could take it to the next support level of 1.2845. The pair is expected to find its first resistance at 1.3126, and a rise through could take it to the next resistance level of 1.3187.
Amid no economic releases in Canada today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
