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Loonie Trading Higher, Ahead Of Canada’s RBC Manufacturing PMI Data

Loonie Trading Higher, Ahead Of Canada’s RBC Manufacturing PMI Data

USDCAD

For the 24 hours to 23:00 GMT, the USD marginally rose against the CAD and closed at 1.3444.

In the Asian session, at GMT0400, the pair is trading at 1.3406, with the USD trading 0.28% lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.3377, and a fall through could take it to the next support level of 1.3348. The pair is expected to find its first resistance at 1.3444, and a rise through could take it to the next resistance level of 1.3482.

Going ahead, investors will keep a close watch on Canada’s RBC manufacturing PMI for December, scheduled to release later in the day.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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