USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.49% against the CAD and closed at 1.3213 on Friday.
On the data front, Canada’s manufacturing shipments rose by 0.1% MoM in July, lower than market expectations for an advance of 1.0% and after recording a gain of 0.8% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3153, with the USD trading 0.45% lower against the CAD from Friday’s close.
The pair is expected to find support at 1.3111, and a fall through could take it to the next support level of 1.3069. The pair is expected to find its first resistance at 1.3221, and a rise through could take it to the next resistance level of 1.3289.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
