USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.21% against the CAD to close at 0.9608, as oil prices shed early losses to move higher.
The Philadelphia Federal Reserve President, Charles Plosser indicated that there is ample evidence that the US economy is on the mend and that a moderate but sustainable recovery was underway.
In Canada, the manufacturing sales, on monthly basis, declined by 1.5% in February to C$47.1 billion compared to a downwardly revised 4.4% gain recorded in January.
In the Asian session at 3:00GMT, the pair is trading at 0.9619, 0.11% higher from the New York session close.
The first area of short term resistance is observed at 0.9663, followed by 0.9707 and 0.9788. The first area of support is at 0.9582, with the subsequent supports at 0.9545 and 0.9464.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
