USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.24% against the CAD to close at 0.9820.
In Canada, raw materials prices rose 3.4% (MoM) in August, following a 0.8% rise in July. Additionally the industrial product price index (IPPI) edged down 0.1% (MoM) in August.
In the Asian session, at GMT0300, the pair is trading at 0.9819, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9794, and a fall through could take it to the next support level of 0.9769. The pair is expected to find its first resistance at 0.9848, and a rise through could take it to the next resistance level of 0.9877.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
