USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, USD declined 0.13% against the CAD to close at 1.0255. The Loonie rose as risk appetite increased among investors amid optimism that that Greece would stay in the Euro-zone following, Italian Prime Minister, Mario Monti comment that Euro-zone can have euro bonds soon.
In the Asian session, at GMT0300, the pair is trading at 1.0250, with the USD trading 0.05% lower from Friday’s close, as risk appetite rose on polls suggesting pro-bailout political parties are gaining ground in Greece.
The pair is expected to find support at 1.0227, and a fall through could take it to the next support level of 1.0205. The pair is expected to find its first resistance at 1.0292, and a rise through could take it to the next resistance level of 1.0335.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
