USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.30% against the CAD on Friday, to close at 0.9781.
In the Asian session at 3:00GMT, the pair is trading at 0.9779, 0.02% lower from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9839, followed by 0.9899 and 1.0005. The first area of support is at 0.9733, with the subsequent supports at 0.9687 and 0.9581.
Trading trends in the pair today are expected to be determined by release of data on purchasing manager index and building permits in Canada.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
