USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 1.30% against the CAD to close at 1.0225, as comments from German officials that eurozone officials would not be able to find a solution till October23, diminished appeal for high yielding assets.
In economic news, the foreign investment in Canadian Securities declined to $7.92 billion in August, compared to $12.13 billion in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0227, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 1.0100, and a fall through could take it to the next support level of 0.9973. The pair is expected to find its first resistance at 1.0298, and a rise through could take it to the next resistance level of 1.0369.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
