USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.58% against the CAD to close at 0.9489.
Canadian dollar declined as oil and other commodities fell, after orders for US durable goods declined in June, sparking concern over the strength of the recovery in the world’s largest economy.
In Canada, the Teranet-National Bank reported that, on a monthly basis, the composite house price index rose by 1.3% in May, the largest gain since July 2010.
In the Asian session at 3:00GMT, the pair is trading at 0.9489, steady from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9529, followed by 0.9569 and 0.9671. The first area of support is at 0.9427, with the subsequent supports at 0.9365 and 0.9263.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
