USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.19% against the CAD to close at 1.0254.
Loonie gained against the greenback as reports that European officials are weighing a broad plan to control the region’s debt crisis reduced fears over the Greece debt default, raising appeal for high-yielding assets. Also, a rise in the oil prices supported the gains.
In the Asian session at 3:00GMT, USD is trading at 1.0229, 0.24% lower against the Canadian dollar from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 1.0335, followed by 1.0440 and 1.0600. The first area of support is at 1.0175, with the subsequent supports at 1.0120 and 0.9960.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
