USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.16% against the CAD to close at 0.9858. Canadian dollar gained against greenback as an upbeat US manufacturing data eased investors’ concerns about the Canadian economic outlook, US’s largest trading partner.
In the Asian session, at GMT0300, the pair is trading at 0.9861, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 0.9830, and a fall through could take it to the next support level of 0.9799. The pair is expected to find its first resistance at 0.9895, and a rise through could take it to the next resistance level of 0.9929.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
