USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.47% against the CAD and closed at 1.3383.
Macroeconomic data showed that Canada’s RBC manufacturing PMI advanced to a level of 55.5 in March, expanding at its fastest rate since October 2013, compared to a level of 54.7 recorded in the previous month.
Separately, the Bank of Canada (BoC), in its latest business outlook survey, indicated that the balance of opinion on future sales dropped to 21.0% from 26.0% in the previous quarter.
In the Asian session, at GMT0300, the pair is trading at 1.3383, with the USD trading flat against the CAD from yesterday’s close.
The pair is expected to find support at 1.3328, and a fall through could take it to the next support level of 1.3272. The pair is expected to find its first resistance at 1.3419, and a rise through could take it to the next resistance level of 1.3454.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
