USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.71% against the CAD to close at 1.0081.
Loonie rose against the greenback after the European Central Bank announced an interest rate cut and amid reports that Greece had abandoned its plan for a referendum, raising appeal for high-yielding assets.
In the Asian session, at GMT0400, the pair is trading at 1.0115, with the USD trading 0.34% higher from yesterday’s close.
The pair is expected to find support at 1.0043, and a fall through could take it to the next support level of 0.9972. The pair is expected to find its first resistance at 1.0198, and a rise through could take it to the next resistance level of 1.0282.
The pair is expected to trade on the cues from the release of employment data in Canada.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
