USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.74% against the CAD to close at 1.0347. Loonie rose on renewed investor’ hopes that European leaders would make progress on resolving the Euro-zone’s debt crisis
In the Asian session, at GMT0400, the pair is trading at 1.0334, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1.0282, and a fall through could take it to the next support level of 1.023. The pair is expected to find its first resistance at 1.0408, and a rise through could take it to the next resistance level of 1.0483.
The pair is expected to trade on the cues from the release of current account data in Canada.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
