The pair had been declining for the past few days and managed to find a strong support on the ascending channel testing the last week low zone. Bulls tried boosting up in today’s European session where they can lock the position with minimum risk, expecting further upside movement after the breakthrough of 1.32000 strong barrier. Currently pricing at 1.31750 USDCAD is lagging its further movement. The pair is expected to move in the recovery direction as the focus now shifts on the next release of Durable goods data and Jobless claims followed by market manufacturing PMI.
Later during the US trading session, the BoC Governor Stephen Poloz is scheduled to speak about monetary policy at the Chamber of Commerce of Metropolitan Montreal and might infuse some volatility around the major.On the other side, as it is a critical level to decide, short after the breakthrough the rejection at 1.31000 may lead its downside movement till 1.29500 and further.

USDCAD TODAY:
Daily open: 1.31766
Daily Last high: 1.32069
Daily Last Low: 1.31637
Daily current growth: -0.02%