USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.23% against the CAD and closed at 1.2885.
On Friday, data revealed that Canada’s seasonally adjusted Ivey PMI rose to a level of 71.5 in April, compared to a level of 59.8 in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2898, with the USD trading 0.10% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2859, and a fall through could take it to the next support level of 1.2819. The pair is expected to find its first resistance at 1.2919, and a rise through could take it to the next resistance level of 1.2939.
Later today, traders would closely monitor Canada’s housing starts for April.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
