USD/CAD: Loonie trading higher in the Asian session

USDCAD

USDCAD Movement

For the 24 hours to 23:00 GMT, the USD declined 0.34% against the CAD to close at 1.1162. The Canadian Dollar gained ground after Canada’s manufacturing PMI advanced to 53.5 in September, compared to a reading of 54.8 recorded in the prior month.

In the Asian session, at GMT0300, the pair is trading at 1.1091, with the USD trading 0.64% lower from yesterday’s close.

The pair is expected to find support at 1.1042, and a fall through could take it to the next support level of 1.0992. The pair is expected to find its first resistance at 1.1182, and a rise through could take it to the next resistance level of 1.1272.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

This entry was posted in USD/CAD. Bookmark the permalink.

Comments are closed.