USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.19% against the CAD, on Friday, to close at 1.0490, as disappointing Italian bond auctions weighed on investor sentiment.
The rise in Italian borrowing costs after a disappointing auction of Italian government debt, raised concerns that that the debt crisis in the region is deepening.
In the Asian session, at GMT0400, the pair is trading at 1.0420, with the USD trading 0.67% lower from Friday’s close.
The pair is expected to find support at 1.0367, and a fall through could take it to the next support level of 1.0314. The pair is expected to find its first resistance at 1.0498, and a rise through could take it to the next resistance level of 1.0577.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
