USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.12% against the CAD to close at 1.1387.
In economic news, Canada’s Ivey PMI advanced to a 2-month high reading of 56.9 in November, higher than market expectations of a rise to 52.5 and compared to previous month’s level of 51.2, thus reducing concerns over the nation’s economic outlook.
In the Asian session, at GMT0400, the pair is trading at 1.1393, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.1356, and a fall through could take it to the next support level of 1.1319. The pair is expected to find its first resistance at 1.1414, and a rise through could take it to the next resistance level of 1.1435.
Meanwhile, investors look forward to Canada’s unemployment rate data, scheduled later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
