USDCAD Movement
On Friday, the USD rose 0.16% against the CAD to close at 1.0657.
In the Asian session, at GMT0300, the pair is trading at 1.0663, with the USD trading 0.06% higher from Friday’s close.
The pair is expected to find support at 1.0637, and a fall through could take it to the next support level of 1.0612. The pair is expected to find its first resistance at 1.0677, and a rise through could take it to the next resistance level of 1.0692.
Trading trends in the pair today are expected to be determined by Canada’s Ivy Purchasing Managers Index for June, which is to be released later during the day. Additionally, the release of Bank of Canada Business Outlook Survey for Q2 would provide a proper analysis of economic situation in Canada.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
