USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.56% against the CAD to close at 0.9913, fueled by the prospect of continued accommodative policy from the Federal Reserve and renewed hopes for a larger Euro-zone bailout fund.
In the Asian session, at GMT0300, the pair is trading at 0.9922, with the USD trading 0.08% higher from yesterday’s close.
The pair is expected to find support at 0.9885, and a fall through could take it to the next support level of 0.9848. The pair is expected to find its first resistance at 0.9979, and a rise through could take it to the next resistance level of 1.0036.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
