USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.83% against the CAD, on Friday, to close at 1.0165.
Canadian dollar declined as investors’ speculation that European officials are struggling to contain the Greece debt crisis, diminished appeal for high-yielding currencies.
In the Canadian economic news, the unemployment rate rose to 7.3% in October, compared to 7.1% in the previous month. The number of employed people declined 54,000 in October, compared to 60,900 growth in September. Additionally, Ivey Purchasing Managers Index (PMI) declined to 55.6 in October compared to 63.4 in September.
In the Asian session, at GMT0400, the pair is trading at 1.0170, with the USD trading marginally higher from Friday’s close.
The pair is expected to find support at 1.0107, and a fall through could take it to the next support level of 1.0044. The pair is expected to find its first resistance at 1.0231, and a rise through could take it to the next resistance level of 1.0292.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
