USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.37% against the CAD, on Friday, to close at 1.0181. Canadian dollar declined against the US dollar, after reports showed that Canadian unemployment rate rose in November. The unemployment rate in Canada rose to 7.4% in November, compared to a rate of 7.3% recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0168, with the USD trading 0.13% lower from Friday’s close.
The pair is expected to find support at 1.0099, and a fall through could take it to the next support level of 1.0031. The pair is expected to find its first resistance at 1.0217, and a rise through could take it to the next resistance level of 1.0266.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
