USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, the USD rose 0.20% against the CAD to close at 0.9970, as risk appetite fell amid rising uncertainty surrounding talks between US lawmakers to avoid the looming fiscal cliff crisis.
In the Asian session, at GMT0400, the pair is trading at 0.9950, with the USD trading 0.20% lower from Friday’s close.
The pair is expected to find support at 0.9936, and a fall through could take it to the next support level of 0.9921. The pair is expected to find its first resistance at 0.9968, and a rise through could take it to the next resistance level of 0.9986.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above its 50 Hr moving average.
