- USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined marginally against the CAD to close at 0.9859, buoyed by an improvement in Canada’s purchasing activity.
On a seasonally adjusted basis, Canada’s Ivey Purchasing Managers Index (PMI) rose to 52.8 in December, from 47.5 in November. Analysts had expected a reading of 49.5.
In the Asian session, at GMT0400, the pair is trading at 0.9869, with the USD trading 0.10% higher from yesterday’s close.
The pair is expected to find support at 0.9854, and a fall through could take it to the next support level of 0.9838. The pair is expected to find its first resistance at 0.9885, and a rise through could take it to the next resistance level of 0.99.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
