USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, the USD rose marginally against the CAD to close at 1.0012. However, losses in the Canadian dollar were capped, supported by a rise in oil prices.
In the Asian session, at GMT0400, the pair is trading at 0.9999, with the USD trading 0.13% lower from Friday’s close.
The pair is expected to find support at 0.9979, and a fall through could take it to the next support level of 0.9958. The pair is expected to find its first resistance at 1.0039, and a rise through could take it to the next resistance level of 1.0078.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
