USDCAD Movement
On Friday, for the 24 hours to 23:00 GMT, USD rose 0.37% against the CAD to close at 0.9891.
On the economic front, Gross Domestic Product (GDP) grew 1.8% (YoY) in the fourth quarter of 2011, compared to the revised growth of 4.2% during the previous quarter.
In the Asian session, at GMT0400, the pair is trading at 0.9902, with the USD trading 0.11% higher from Friday’s close.
The pair is expected to find support at 0.9872, and a fall through could take it to the next support level of 0.9842. The pair is expected to find its first resistance at 0.9920, and a rise through could take it to the next resistance level of 0.9938.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
