USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.15% against the CAD to close at 0.9983.
The Canadian dollar rose, buoyed by the release of positive US economic data, raising hopes of stronger growth by Canada’s largest trading partner.
In the US economic news, pending home sales in January hit a near two-year high, and manufacturing activity in the Dallas area rose at a faster rate in February.
In the Asian session, at GMT0400, the pair is trading at 0.9966, with the USD trading 0.17% lower from yesterday’s close.
The pair is expected to find support at 0.9938, and a fall through could take it to the next support level of 0.9911. The pair is expected to find its first resistance at 1.0022, and a rise through could take it to the next resistance level of 1.0077.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
