Loonie Trading Higher In The Asian Session
GCI Financial | Oct 02, 2014 02:57AM ET
For the 24 hours to 23:00 GMT, the USD declined 0.34% against the CAD to close at 1.1162. The Canadian Dollar gained ground after Canada’s manufacturing PMI advanced to 53.5 in September, compared to a reading of 54.8 recorded in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.1091, with the USD trading 0.64% lower from yesterday’s close.
The pair is expected to find support at 1.1042, and a fall through could take it to the next support level of 1.0992. The pair is expected to find its first resistance at 1.1182, and a rise through could take it to the next resistance level of 1.1272.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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