USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.56% against the CAD to close at 1.0099, as risk aversion among investors eased after ECB President, Mario Draghi vowed that the central bank would do everything in its power to save the shared currency.
In the Asian session, at GMT0300, the pair is trading at 1.0088, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 1.0046, and a fall through could take it to the next support level of 1.0005. The pair is expected to find its first resistance at 1.0146, and a rise through could take it to the next resistance level of 1.0205.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
