USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.34% against the CAD to close at 0.9795.
In the Asian session, at GMT0300, the pair is trading at 0.9788, with the USD trading 0.08% lower from yesterday’s close. The Canadian Dollar is trading higher, as demand for the Lonnie continued to be underpinned by higher crude prices and expectations for a rate hike by the Bank of Canada.
The pair is expected to find support at 0.9752, and a fall through could take it to the next support level of 0.9717. The pair is expected to find its first resistance at 0.9816, and a rise through could take it to the next resistance level of 0.9844.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
