USDCAD Movement
On Friday, the USD rose 1.17% against the CAD to close at 1.1750. The CAD lost ground after Canada’s RBC manufacturing PMI slipped to a 3-month low reading of 53.9 in December, compared to a level of 55.3 recorded in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.1810, with the USD trading 0.51% higher from Friday’s close.
The pair is expected to find support at 1.1680, and a fall through could take it to the next support level of 1.1551. The pair is expected to find its first resistance at 1.1892, and a rise through could take it to the next resistance level of 1.1975.
Amid no economic releases in Canada today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
