Loonie Trading Marginally Higher Ahead Of Canada’s RBC Manufacturing PMI
GCI Financial | Jul 02, 2015 01:12AM ET
For the 24 hours to 23:00 GMT, the USD rose 0.87% against the CAD to close at 1.2591.
In the Asian session, at GMT0300, the pair is trading at 1.2585, with the USD trading slightly lower from yesterday’s close.
The pair is expected to find support at 1.2509, and a fall through could take it to the next support level of 1.2433. The pair is expected to find its first resistance at 1.263, and a rise through could take it to the next resistance level of 1.2675.
Going forward, investors await the release of Canada’s RBC manufacturing PMI data, scheduled in a few hours for further cues.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
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