USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.14% against the CAD to close at 1.0861, after data showed that US consumer inflation rate rose at the fastest annual pace since October 2012 in May.
In the Asian session, at GMT0300, the pair is trading at 1.0866, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.0849, and a fall through could take it to the next support level of 1.0833. The pair is expected to find its first resistance at 1.0879, and a rise through could take it to the next resistance level of 1.0893.
Later today, the Statistics Canada is scheduled to publish a report on Canada’s wholesale sales for April.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
