USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.20% against the CAD to close at 1.0646, as an unexpected rise in the US ISM manufacturing PMI for November, bolstered speculations that the Fed might slow its monetary-stimulus programme sooner-than-expected.
In the Asian session, at GMT0400, the pair is trading at 1.0648, with the USD trading tad higher from yesterday’s close.
The pair is expected to find support at 1.0621, and a fall through could take it to the next support level of 1.0595. The pair is expected to find its first resistance at 1.0665, and a rise through could take it to the next resistance level of 1.0683.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
