USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.08% against the CAD, on Friday, to close at 0.9806. The Canadian dollar edged higher against the greenback on Friday as news of an outline agreement to aid debt-burdened Greece lifted investor confidence.
In the US, the Reuters/Michigan consumer sentiment index stood at 71.8 points in June, from 74.3 points in May.
In Canada, the wholesale sales declined by 0.1% (M-o-M) in April, compared to 0.3% gain in March.
In the Asian session at 3:00GMT, the pair is trading at 0.9818, 0.12% higher from Friday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9866, followed by 0.9914 and 1.0007. The first area of support is at 0.9773, with the subsequent supports at 0.9728 and 0.9635.
The currency pair is showing convergence with its 20 Hr moving average and its 50 Hr moving average.
