USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, the USD rose 0.63% against the CAD to close at 0.9922.
In Canada, manufacturing sales expanded 1.7% (MoM) in November, against the expectations for 1.0% rise and October’s contraction of 1.4%.
In the Asian session, at GMT0400, the pair is trading at 0.9912, with the USD trading 0.10% lower from Friday’s close.
The pair is expected to find support at 0.9866, and a fall through could take it to the next support level of 0.9820. The pair is expected to find its first resistance at 0.9953, and a rise through could take it to the next resistance level of 0.9994.
Trading trends in the pair today are expected to be determined by the release of Canadian wholesale sales data.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
