USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 0.9957.
Yesterday, the Richard Ivey School of Business reported that, business activity in Canada improved significantly in January.
In the Asian session, at GMT0400, the pair is trading at 0.9963, with the USD trading marginally higher from yesterday’s close, as market sentiment turned cautious before the European Central Bank meeting due later today.
The pair is expected to find support at 0.9945, 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 0.9985, and a rise through could take it to the next resistance level of 1.0008.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
