USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.21% against the CAD to close at 1.3136.
The CAD lost ground after the seasonally adjusted Ivey PMI in Canada eased to 52.90 in July, after recording a reading of 55.90 in the previous month.
In other economic news, the nation’s unemployment rate remained unchanged at 6.8% in July from June. On the other hand, building permits in the nation rose 14.80% MoM in June, higher than market anticipations for a 5.00% rise.
In the Asian session, at GMT0300, the pair is trading at 1.3144, with the USD trading 0.06% higher from Friday’s close.
The pair is expected to find support at 1.3066, and a fall through could take it to the next support level of 1.2989. The pair is expected to find its first resistance at 1.3203, and a rise through could take it to the next resistance level of 1.3263.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
