USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.15% against the CAD to close at 0.9994, as Greece and its creditors struggle to reach an agreement on a debt swap, dampening demand for higher-yielding assets.
Meanwhile, Dallas Federal Reserve Bank President, Richard Fisher stated last night that he would oppose a third round of quantitative easing, calling it unnecessary.
In the Asian session, at GMT0400, the pair is trading at 0.9994, with the USD trading flat higher from yesterday’s close.
The pair is expected to find support at 0.9972, and a fall through could take it to the next support level of 0.9951. The pair is expected to find its first resistance at 1.0013, and a rise through could take it to the next resistance level of 1.0032.
Economic releases taking center stage today includes unemployment rate in Canada to offer guidance to the pair.
The currency pair is trading converging with its 20 Hr and 50 Hr moving averages.
