USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.09% against the CAD and closed at 1.2832.
Data indicated that Canada’s Markit manufacturing PMI declined to a level of 55.6 in February, on the back of a fall in new orders. The PMI had registered a level of 55.9 in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.2829, with the USD trading marginally lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2794, and a fall through could take it to the next support level of 1.2758. The pair is expected to find its first resistance at 1.288, and a rise through could take it to the next resistance level of 1.2930.
Ahead in the day, investors would await the release of Canada’s gross domestic figures for December.
The currency pair is trading below its 20 Hr and above its 50 Hr moving average.
