USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.46% against the CAD to close at 0.9949.
The Chinese central bank has raised the benchmark deposit and lending rates by 25 basis points, for the third time since October last year. Additionally, housing starts in Canada rose 0.8% to an annual rate of to 170,400 in January.
In the Asian session at 4:00GMT, the pair is trading at 0.9941, 0.08% lower from the New York session close.
The first area of short term resistance is observed at 0.9992, followed by 1.0043 and 1.0159. The first area of support is at 0.9876, with the subsequent supports at 0.9811 and 0.9695.
With no major release from Canada, the pair is expected to trade on trends in the greenback.
The pair traded slightly above the 50 Hr moving average, but well above 20 Hr moving average.
