USDCAD Movement
On Friday, the USD rose marginally against the CAD to close at 1.0172.
The Canadian Dollar recorded losses after manufacturing shipments in Canada dropped unexpectedly by 2.4% (MoM) in April, following a 0.6% fall recorded in the previous month. Market had expected a rise of 0.3%.
In the Asian session, at GMT0300, the pair is trading at 1.0162, with the USD trading 0.10% lower from Friday’s close.
The pair is expected to find support at 1.0135, and a fall through could take it to the next support level of 1.0107. The pair is expected to find its first resistance at 1.0189, and a rise through could take it to the next resistance level of 1.0215.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
