USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, USD declined 0.38% against the CAD to close at 1.0248.
On a seasonally adjusted monthly basis, the Consumer Price Index (CPI) in Canada dropped 0.1% in May, compared to a 0.4% gain recorded in April.
In the Asian session, at GMT0300, the pair is trading at 1.0263, with the USD trading 0.15% higher from Friday’s close.
The pair is expected to find support at 1.0236, and a fall through could take it to the next support level of 1.0210. The pair is expected to find its first resistance at 1.0295, and a rise through could take it to the next resistance level of 1.0327.
With no other major domestic economic releases today, the Canadian Dollar is likely to respond to the prevalent risk sentiment in the market.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
