USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.76% against the CAD to close at 0.9566, as the commodity prices rose on unexpectedly strong Chinese trade data.
In the US, the wholesale inventories increased by 1.1% (M-o-M) in March from 1.0% increase in February
In the Asian session at 3:00GMT, the pair is trading at 0.9559, 0.07% lower from the New York session close.
The first area of short term resistance is observed at 0.9625, followed by 0.9692 and 0.9796. The first area of support is at 0.9521, with the subsequent supports at 0.9484 and 0.9380.
Trading trends in the pair today are expected to be determined by data release on international merchandise trade in Canada.
The currency pair is trading just below its 20 Hr moving average and 50 Hr moving average.
