USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.84% against the CAD to close at 0.9858.
The Canadian Dollar advanced as risk appetite improved after the US lawmakers passed a deficit-reduction plan to avoid automatic austerity that would likely have pushed Canada’s main trading partner into recession.
In the Asian session, at GMT0400, the pair is trading at 0.9861, with the USD trading steady from yesterday’s close.
The pair is expected to find support at 0.9838, and a fall through could take it to the next support level of 0.9815. The pair is expected to find its first resistance at 0.9883, and a rise through could take it to the next resistance level of 0.9905.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
