USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.57% against the CAD and closed at 1.3123.
In the Asian session, at GMT0300, the pair is trading at 1.3128, with the USD trading marginally higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3055, and a fall through could take it to the next support level of 1.2982. The pair is expected to find its first resistance at 1.3171, and a rise through could take it to the next resistance level of 1.3214.
Looking forward, market participants would closely monitor Canada’s RBC manufacturing PMI data for July, due to release later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
