USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.66% against the CAD to close at 0.9858.
Loonie rose against USD as rise in stocks and commodities eased risk aversion.
In the Asian session at 3:00GMT, USD is trading at 0.9889, 0.31% higher against the Canadian dollar from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9962, followed by 1.0034 and 1.0164. The first area of support is at 0.9832, with the subsequent supports at 0.9774 and 0.9644.
The pair is expected to trade on the cues from the release of capacity utilization data in Canada.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
