USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.36% against the CAD and closed at 1.3466 on Friday.
Macroeconomic data revealed that Canada’s unemployment rate rose to 6.6% in May, meeting market expectations. In the previous month, the unemployment rate had recorded a reading of 6.5%. Nevertheless, the nation’s net number of people employed climbed more-than-expected by 54.5K in May, rising by the most in eight months and following an increase of 3.2K in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3448, with the USD trading 0.13% lower against the CAD from Friday’s close.
The pair is expected to find support at 1.3405, and a fall through could take it to the next support level of 1.3361. The pair is expected to find its first resistance at 1.3510, and a rise through could take it to the next resistance level of 1.3571.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
