USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 0.9979, as investors sought refuge in the safety of the greenback amid renewed Euro-zone worries. Moreover, drop in oil prices further pressured the Canadian Dollar.
In the Asian session, at GMT0400, the pair is trading at 0.9991, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 0.9959, and a fall through could take it to the next support level of 0.9928. The pair is expected to find its first resistance at 1.0009, 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.
