USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.10% against the CAD to close at 0.9922. The Canadian Dollar rose as risk appetite increased after the executive board of the International Monetary Fund (IMF) approved a €28 billion ($36.49 billion) loan for Greece.
In the Asian session, at GMT0400, the pair is trading at 0.992, with the USD trading 0.02% lower from yesterday’s close.
The pair is expected to find support at 0.9901, and a fall through could take it to the next support level of 0.9882. The pair is expected to find its first resistance at 0.9944, and a rise through could take it to the next resistance level of 0.9968.
Trading trends in the pair today are expected to be determined by the release of international securities transactions and manufacturing shipments data in the Canada.
The currency pair is trading just below its 20 Hr and 50 Hr moving averages.
