USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 1.07% against the CAD to close at 1.1142. The CAD gained ground after Canada’s Ivey PMI surprisingly advanced to 58.6 in September, marking its highest level since October 2013, beating market expectations for a reading of 52.5 and compared to 50.9 registered in August.
In the Asian session, at GMT0300, the pair is trading at 1.118, with the USD trading 0.34% higher from yesterday’s close.
The pair is expected to find support at 1.1110, and a fall through could take it to the next support level of 1.1039. The pair is expected to find its first resistance at 1.1252, and a rise through could take it to the next resistance level of 1.1323.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
