USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.65% against the CAD to close at 0.9728.
In Canada, the retail sales increased by 0.3% (M-o-M) in April, following a 0.1% drop in March. Additionally, the leading indicators increased by 1.0% (M-o-M) in May in comparison with 0.9% increase in April.
In the Asian session at 3:00GMT, the pair is trading at 0.9735, 0.07% higher from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9784, followed by 0.9833 and 0.9920. The first area of support is at 0.9697, with the subsequent supports at 0.9659 and 0.9572.
The currency pair is showing convergence with its 20 Hr moving average and is trading just below its 50 Hr moving average.
