USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.27% against the CAD to close at 1.0075, as signs of slowing global growth and concern that Europe’s debt crisis is worsening raised demand for the safe-haven greenback.
In the US, factory orders declined 0.5% (MoM) in June, while initial jobless claims for unemployment assistance rose less-than-expected to a seasonally adjusted 365,000 in the week ended July 28.
In the Asian session, at GMT0300, the pair is trading at 1.0064, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 1.0016, and a fall through could take it to the next support level of 0.9967. The pair is expected to find its first resistance at 1.0099, and a rise through could take it to the next resistance level of 1.0133.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
