USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.08% against the CAD to close at 0.9912, after Fed signals no need for more easing unless growth falters.
The minutes of the 13th March FOMC meeting suggested that a couple of members indicated that the initiation of additional stimulus could become necessary only if the economy lost momentum or if inflation seemed likely to remain below 2.0%.
In the Asian session, at GMT0300, the pair is trading at 0.9919, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 0.9895, and a fall through could take it to the next support level of 0.9871. The pair is expected to find its first resistance at 0.9937, and a rise through could take it to the next resistance level of 0.9954.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
