USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.32% against the CAD to close at 0.9764, despite further sharp declines in the price of oil.
In the Asian session at 3:00GMT, the pair is trading at 0.9741, 0.24% lower from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9781, followed by 0.9822 and 0.9887. The first area of support is at 0.9716, with the subsequent supports at 0.9692 and 0.9627.
Trading trends in the pair today are expected to be determined by data release on capacity utilization and new motor vehicle sales in Canada.
The currency pair is trading just below its 20 Hr moving average and its 50 Hr moving average.
