USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.11% against the CAD to close at 1.2790.
In economic news, manufacturing shipments slid 1.7% on a monthly basis in January, higher than market expected drop of 1.2% and compared to a revised rise of 1.6% registered in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 1.2790, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 1.2758, and a fall through could take it to the next support level of 1.2727. The pair is expected to find its first resistance at 1.2810, and a rise through could take it to the next resistance level of 1.2831.
Amid a light economic calendar in Canada today, investors look forward to the nation’s CPI data, scheduled on Friday.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
