USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 2.19% against the CAD to close at 1.0218, as risk appetite faded, amid renewed concerns that Greece would default, after Greek Prime Minister, George Papandreou pledged to put an agreement reached last week by the European Union to a referendum.
In the Asian session, at GMT0400, the pair is trading at 1.0200, with the USD trading 0.18% lower from yesterday’s close.
The pair is expected to find support at 1.0049, and a fall through could take it to the next support level of 0.9899. The pair is expected to find its first resistance at 1.0287, and a rise through could take it to the next resistance level of 1.0375.
Bank of Canada Governor Carney’s speech is likely to receive increased market attention today.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
