For the 24 hours to 23:00 GMT, the USD rose 0.55% against the CAD and closed at 1.3061 on Friday.
Data showed that Canada’s unemployment rate fell to 5.6% in December, compared to 5.9% in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.3046, with the USD trading 0.11% lower against the CAD from Friday’s close.
The pair is expected to find support at 1.3025, and a fall through could take it to the next support level of 1.3003. The pair is expected to find its first resistance at 1.3072, and a rise through could take it to the next resistance level of 1.3097.
Trading trend in the Loonie today, is expected to be determined by the Bank of Canada’s business outlook survey, scheduled to release later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
