USDCAD Movement
For the 24 hours to 23:00 GMT, USD traded flat against the CAD to close at 0.9560.
The International Monetary Fund (IMF), in its April 2011 World Economic Outlook report stated that the global economic recovery is gaining strength, but new challenges such as high commodity prices have emerged.
In the Asian session at 3:00GMT, the pair is trading at 0.9604, 0.46% higher from the New York session close.
The first area of short term resistance is observed at 0.9628, followed by 0.9651 and 0.9720. The first area of support is at 0.9559, with the subsequent supports at 0.9513 and 0.9444.
Investors are eying Bank of Canada interest rate decision, along with other economic releases in Canada later today.
The currency pair is trading just above its 20 Hr moving average and its 50 Hr moving average.
