USD/CAD: Trading Flat This Morning

USD/CAD: Trading Flat This Morning

For the 24 hours to 23:00 GMT, the USD declined 0.37% against the CAD to close at 0.9964.

The Canadian Dollar strengthened as an unexpected rise in a gauge of manufacturing in the US, Canada’s biggest trading partner, boosted risk appetite.

In the Asian session, at GMT0400, the pair is trading at 0.9963, with the USD flat from yesterday’s close.

The pair is expected to find support at 0.9944, and a fall through could take it to the next support level of 0.9925. The pair is expected to find its first resistance at 0.9998, and a rise through could take it to the next resistance level of 1.0033.

Trading trends in the pair today are expected to be determined by the release of unemployment data in Canada.