USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.09% against the CAD to close at 1.1257.
On the macro front, Canada’s manufacturing shipments eased 3.3% on a monthly basis in August, registering its fastest decline since May 2009, higher than market expected fall of 2.0% and compared to a revised gain of 2.9% recorded in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.1255, with the USD trading a tad lower from yesterday’s close.
The pair is expected to find support at 1.1200, and a fall through could take it to the next support level of 1.1146. The pair is expected to find its first resistance at 1.1336, and a rise through could take it to the next resistance level of 1.1418.
Looking ahead, investors await Canada’s consumer price index (CPI) data for further cues, scheduled later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
