USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.44% against the CAD and closed at 1.3046.
In the Asian session, at GMT0400, the pair is trading at 1.3056, with the USD trading 0.08% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3043, and a fall through could take it to the next support level of 1.3029. The pair is expected to find its first resistance at 1.3071, and a rise through could take it to the next resistance level of 1.3085.
Looking ahead, market participants would keep a close watch on Canada’s manufacturing sales for November, slated to release in a few hours.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
