USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.20% against the CAD to close at 1.0131, as renewed concerns about the Euro-zone debt crisis diminished appeal for high-yielding assets.
In the Asian session, at GMT0400, the pair is trading at 1.0141, with the USD trading 0.10% higher from yesterday’s close.
The pair is expected to find support at 1.0113, and a fall through could take it to the next support level of 1.0084. The pair is expected to find its first resistance at 1.0166, and a rise through could take it to the next resistance level of 1.0191.
The pair is expected to trade on the cues from the release of industrial product price data and raw material price index in Canada.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
