USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.45% against the CAD to close at 0.9853.
In the US, industrial production decreased 0.1% in January 2011, after having risen 1.2% in December, while capacity utilization rate came in at 76.1.
In the Asian session at 4:00GMT, the pair is trading at 0.9843, 0.10% lower from the New York session close.
The first area of short term resistance is observed at 0.9871, followed by 0.9898 and 0.9940. The first area of support is at 0.9829, with the subsequent supports at 0.9814 and 0.9772.
Bank of Canada monetary policy report is expected to be the focus of the investors. Additionally trading trends are also expected to depend on economic data release in the US such as CPI, continuing jobless claims and wholesale sales.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
