USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, the USD rose 0.21% against the CAD to close at 0.9970.
The Finance Department in its monthly Fiscal Monitor publication reported that Canada’s budget deficit widened to C$3.17 billion ($3.19 billion) in August, compared to a deficit of C$1.05 billion recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9987, with the USD trading 0.16% higher from Friday’s close.
The pair is expected to find support at 0.9954, and a fall through could take it to the next support level of 0.9922. The pair is expected to find its first resistance at 1.0007, and a rise through could take it to the next resistance level of 1.0028.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
