USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, USD declined 0.53% against the CAD to close at 1.0045.
In the US, Gross Domestic Product (GDP) expanded to an annual rate of 1.5% in the second quarter of 2012, the weakest pace of growth since the third quarter of 2011.
In the Asian session, at GMT0300, the pair is trading at 1.0047, with the USD trading slightly higher from Friday’s close.
The pair is expected to find support at 1.0017, and a fall through could take it to the next support level of 0.9986. The pair is expected to find its first resistance at 1.0092, and a rise through could take it to the next resistance level of 1.0136.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
