USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.68% against the CAD, on Friday, to close at 1.0268. Canadian dollar fell against greenback after reports showed that Canadian economy added less than expected jobs. The unemployment rate in Canada rose to 7.5% in December, compared to 7.4% in November. The net change in employment rose 175,000 in December, compared to a decline by186,000 in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0316, with the USD trading 0.47% higher from Friday’s close.
The pair is expected to find support at 1.0218, and a fall through could take it to the next support level of 1.012. The pair is expected to find its first resistance at 1.0367, and a rise through could take it to the next resistance level of 1.0417.
Trading trends in the pair today are expected to be determined by building permits data release in Canada.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
