USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.18% against the CAD to close at 0.9911.
Yesterday the Bank of Canada’s (BoC) quarterly monetary policy report indicated that the Canadian economy is steadily gaining strength.
In the Asian session, at GMT0300, the pair is trading at 0.9905, with the USD trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 0.9884, and a fall through could take it to the next support level of 0.9862. The pair is expected to find its first resistance at 0.9925, and a rise through could take it to the next resistance level of 0.9946.
The currency pair is showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
