For the 24 hours to 23:00 GMT, the USD rose 4.23% against the CAD and closed at 1.3594 on Friday.
In the Asian session, at GMT0300, the pair is trading at 1.3630, with the USD trading 0.26% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.3556, and a fall through could take it to the next support level of 1.3482. The pair is expected to find its first resistance at 1.3675, and a rise through could take it to the next resistance level of 1.3720.
Moving forward, traders would keep a watch on Canada’s manufacturing sales for April, slated to release later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.