USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, USD rose 0.45% against the CAD to close at 1.0124, as concerns that Europe’s debt crisis is worsening, reduced demand for higher-yielding assets.
In economic news, on a seasonally adjusted basis, Canadian consumer price index fell 0.2% (MoM) in June, following a 0.3% fall in May.
In the Asian session, at GMT0300, the pair is trading at 1.0156, with the USD trading 0.32% higher from Friday’s close.
The pair is expected to find support at 1.0097, and a fall through could take it to the next support level of 1.0037. The pair is expected to find its first resistance at 1.0188, and a rise through could take it to the next resistance level of 1.0219.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
