USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.21% against the CAD to close at 1.3422.
In economic news, Canada’s industrial product price fell 0.3% MoM in August, while the country’s raw material price index also fell 6.6% on a monthly basis in the same month.
In the Asian session, at GMT0300, the pair is trading at 1.3424, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.3377, and a fall through could take it to the next support level of 1.3330. The pair is expected to find its first resistance at 1.3464, and a rise through could take it to the next resistance level of 1.3505.
Market participants will keep a close watch on the Canadian GDP data for July, to be released later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
