USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.72% against the CAD to close at 0.9854.
In Canada, wholesale sales rose by 1.5% (M-o-M) to C$46.7 billion in January from upwardly revised 1.2% increase in December. Additionally, foreign investment in Canadian securities rose to $13.29 billion in January compared to a net investment of C$9.40 billion recorded in December, while Canadian Investment in Foreign Securities dropped $1.98 billion following a net divestment of C$1.94 billion in the previous month.
In the Asian session at 4:00GMT, the pair is trading at 0.9817, 0.38% lower from the New York session close.
The first area of short term resistance is observed at 0.9898, followed by 0.9980 and 1.0109. The first area of support is at 0.9769, with the subsequent supports at 0.9722 and 0.9593.
Investors are awaiting for economic releases in Canada due to be released later today.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
