USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.75% against the CAD to close at 0.9811, on improved investor sentiment over the state of the global economy and higher commodity prices.
In the Asian session at 3:00GMT, the pair is trading at 0.9812, flat from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9885, followed by 0.9959 and 1.0084. The first area of support is at 0.9760, with the subsequent supports at 0.9709 and 0.9584.
Trading trends in the pair today are expected to be determined by manufacturing shipments data release in Canada.
The pair is trading just below its 20 Hr and its 50 Hr moving averages.
