USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.32% against the CAD to close at 1.0667.
In economic releases, the RBC Canadian manufacturing purchasing managers’ index rose to a six-month high reading of 53.5 in June, from a level of 52.2 in May.
In the Asian session, at GMT0300, the pair is trading at 1.0672, with the USD trading slightly higher from yesterday’s close.
The pair is expected to find support at 1.0638, and a fall through could take it to the next support level of 1.0604. The pair is expected to find its first resistance at 1.0691, and a rise through could take it to the next resistance level of 1.0710.
Later today, the Statistics Canada is scheduled to report Canada’s trade balance data for the month of May.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
