USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.10% against the CAD to close at 0.9872.
The Canadian dollar strengthened versus US dollar yesterday, as investors favoured riskier assets ahead of Federal Reserve Chairman, Ben Bernanke’s statement on Friday.
In the Asian session at 3:00GMT, the pair is trading at 0.9876, 0.04% higher from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9911, followed by 0.9945 and 1.0018. The first area of support is at 0.9838, with the subsequent supports at 0.9799 and 0.9726.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
