USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.33% against the CAD to close at 0.9634. The Canadian dollar recorded gains against greenback, as investors continued to seek out the currency despite lower crude oil prices, as Libyan rebels prepared to export crude oil for the first time since the conflict began six weeks ago.
In the Asian session at 3:00GMT, the pair is trading at 0.9627, 0.07% lower from the New York session close.
The first area of short term resistance is observed at 0.9673, followed by 0.9719 and 0.9791. The first area of support is at 0.9601, with the subsequent supports at 0.9575 and 0.9503.
The pair is expected to trade on the cues from the release of Ivey purchasing managers index in Canada, later today.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
