USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.42% against the CAD on Friday to close at 0.9788.
The Canadian dollar rose on Friday as crude oil, the nation’s biggest export, had gained significantly in the last week.
In the Asian session at 4:00GMT, the pair is trading at 0.9784, 0.04% lower from the New York session close.
The first area of short term resistance is observed at 0.9815, followed by 0.9845 and 0.9899. The first area of support is at 0.9761, with the subsequent supports at 0.9737 and 0.9683.
With a series of Canada economic releases today, including current account and GDP, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
