USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.41% against the CAD to close at 1.0210. The Canadian dollar weakened against its U.S. counterpart, dragged down by continuing fears of a debt contagion in Europe. However the decline was limited after Canada’s monthly factory sales rose more than twice as fast as expected in September. The total manufacturing sales in Canada increased 2.6% (M-o-M) to $49.2 billion in September, compared to 1.4% growth in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0270, with the USD trading 0.59% higher from yesterday’s close.
The pair is expected to find support at 1.0202, and a fall through could take it to the next support level of 1.0134. The pair is expected to find its first resistance at 1.0307, and a rise through could take it to the next resistance level of 1.0344.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
