USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined slightly against the CAD to close at 0.9906.
Canadian dollar traded slightly higher against the US dollar amid rise in the crude oil prices.
In the Asian session at 3:00GMT, the pair is trading at 0.9891, 0.15% lower from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9925, followed by 0.9960 and 1.0045. The first area of support is at 0.9840, with the subsequent supports at 0.9790 and 0.9705.
Trading trends in the pair today are expected to be determined by release of retail sales data in Canada.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
