USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.09% against the CAD to close at 0.9897.
In the Asian session at 3:00GMT, USD is trading at 0.9891, 0.06% lower against the Canadian dollar from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9949, followed by 1.0006 and 1.0108. The first area of support is at 0.9847, with the subsequent supports at 0.9802 and 0.9700.
The pair is expected to trade on the cues from the release of Canadian Purchasing Managers Index (PMI) and Bank of Canada (BoC) interest rate decision.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
