USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, the USD rose 0.23% against the CAD to close at 0.9830.
In Canada, the Gross Domestic Product (GDP) rose higher-than-forecast by 0.2% (MoM) in July, compared to a downwardly revised 0.1% growth in June. Market had expected 0.1% growth in July.
In the Asian session, at GMT0300, the pair is trading at 0.9846, with the USD trading 0.16% higher from Friday’s close.
The pair is expected to find support at 0.9800, and a fall through could take it to the next support level of 0.9755. The pair is expected to find its first resistance at 0.9873, and a rise through could take it to the next resistance level of 0.9900.
In Canada, investors are eyeing industrial product price and raw materials price index data due out later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
