USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.10% against the CAD to close at 0.9903, ahead of the US Federal Reserve Chairman, Ben Bernanke speech at a central bankers’ gathering in Jackson Hole, Wyoming, on Friday amid expectations of another round of monetary easing from the US central bank to stimulate sluggish growth.
In the Asian session, at GMT0300, the pair is trading at 0.9914, with the USD trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 0.9897, and a fall through could take it to the next support level of 0.9879. The pair is expected to find its first resistance at 0.9925, and a rise through could take it to the next resistance level of 0.9935.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
