USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.46% against the CAD, on Friday, to close at 1.0185. Canadian dollar rose against the greenback as positive US consumer confidence data and Euro-zone latest plans to tackle debt crisis, spurred demand for high-yielding assets.
In the US, the Reuters and the University of Michigan reported that the Consumer Sentiment Index rose to 67.7 in December, compared to 64.1 in November.
In the Asian session, at GMT0400, the pair is trading at 1.0202, with the USD trading 0.17% higher from Friday’s close.
The pair is expected to find support at 1.0159, and a fall through could take it to the next support level of 1.0116. The pair is expected to find its first resistance at 1.0254, and a rise through could take it to the next resistance level of 1.0306.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
