USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.67% against the CAD to close at 1.0199.
Canadian dollar fell against the US dollar amid decline in oil prices and as rising bond yields in France indicated renewed Euro-zone debt concerns.
In Canadian economic news, the Industrial Product Price Index (IPPI) rose 0.2% (MoM) in November, following a 0.1% decline in October. Additionally, the Ivey PMI rose to 63.5 in December, compared to 59.9 in November.
In the Asian session, at GMT0400, the pair is trading at 1.0188, with the USD trading 0.10% lower from yesterday’s close.
The pair is expected to find support at 1.0131, and a fall through could take it to the next support level of 1.0074. The pair is expected to find its first resistance at 1.0236, and a rise through could take it to the next resistance level of 1.0283.
The pair is expected to trade on the cues from the release of employment data in Canada.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
