USDCAD Movement
On Friday, the USD rose 0.17% against the CAD to close at 1.0925.
Canada reported a rise in its manufacturing PMI. The nation reported a reading of 54.3 in July, compared to a reading of 53.5 a month ago.
In the Asian session, at GMT0300, the pair is trading at 1.0924, with the USD trading marginally lower from Friday’s close.
The pair is expected to find support at 1.089, and a fall through could take it to the next support level of 1.0857. The pair is expected to find its first resistance at 1.0951, and a rise through could take it to the next resistance level of 1.0979.
Amid lack of releases from Canada today, investor sentiments would depend upon global news.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
