USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.74% against the CAD to close at 1.0170, over strong trade balance data in Canada and as global markets stabilized on easing Euro-zone concerns. Trade balance in Canada showed a surplus of C$1.2 billion in September, compared to a deficit of C$487 million in August.
In the Asian session, at GMT0400, the pair is trading at 1.0196, with the USD trading 0.26% higher from yesterday’s close.
The pair is expected to find support at 1.0151, and a fall through could take it to the next support level of 1.0105. The pair is expected to find its first resistance at 1.0254, and a rise through could take it to the next resistance level of 1.0311.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
