USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.90% against the CAD, on Friday, to close at 0.9866, amid concerns over a Greek government default, sliding commodities and weakening US economic growth. .
In the US, the gross domestic product, on quarterly basis, increased by 1.9% in the first quarter of 2011 following a 3.1% growth in last quarter of 2010.
In the Asian session at 3:00GMT, the pair is trading at 0.9899, 0.33% higher from Friday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9951, followed by 1.0003 and 1.0145. The first area of support is at 0.9809, with the subsequent supports at 0.9719 and 0.9577.
The currency pair is trading well above its 20 Hr moving average and its 50 Hr moving average.
