USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.29% against the CAD to close at 1.0692.
In economic news, the Statistics Canada reported that average weekly earnings of Canadian non-farm payroll employees rose 3.3% (YoY) in April, following a 2.6% (YoY) increase in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 1.0685, with the USD trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 1.0669, and a fall through could take it to the next support level of 1.0654. The pair is expected to find its first resistance at 1.0712, and a rise through could take it to the next resistance level of 1.0740.
Later today, traders are expected to keep a tab on Canada’s industrial product price and raw material price data for May.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
