USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.04% against the CAD to close at 0.9896.
In the Asian session at 4:00GMT, the pair is trading at 0.9880, 0.16% lower from the New York session close.
The first area of short term resistance is observed at 0.9906, followed by 0.9932 and 0.9985. The first area of support is at 0.9853, with the subsequent supports at 0.9826 and 0.9773.
The currency pair is expected to trade on the cues from the release Canada’s foreign investment in Canadian securities, leading indicators, and manufacturing shipments.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
