USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 1.28% against the CAD to close at 1.3214.
According to a private research report, Canada’s economy is expected to grow at 1.9% in 2016 and by 2.0% in 2017. Meanwhile, the nation’s unemployment rate is projected to rise from 6.9% in 2015 to 7.4% and 7.3% in 2016 and 2017, respectively.
In the Asian session, at GMT0400, the pair is trading at 1.3225, with the USD trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 1.3099, and a fall through could take it to the next support level of 1.2973. The pair is expected to find its first resistance at 1.3298, and a rise through could take it to the next resistance level of 1.3372.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
