USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.26% against the CAD to close at 1.3189.
The CAD lost ground, after the RBC’s Canadian Manufacturing PMI fell to 50.8 in July from a six-month high of 51.3 registered in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3189, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 1.3124, and a fall through could take it to the next support level of 1.3059. The pair is expected to find its first resistance at 1.3234, and a rise through could take it to the next resistance level of 1.3278.
Investors would now wait for the release of Canada’s international merchandise trade for June, due to release ahead in the day.
The currency pair is trading above 20 Hr and 50 Hr moving averages.
