USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.76% against the CAD to close at 0.9833.
The Loonie rose as risk appetite increased among investors, after the European Central Bank (ECB) announced its bond buying plan and following better-than-expected US employment data.
In the Asian session, at GMT0300, the pair is trading at 0.9826, with the USD trading 0.07% lower from yesterday’s close.
The pair is expected to find support at 0.9785, and a fall through could take it to the next support level of 0.9744. The pair is expected to find its first resistance at 0.9891, and a rise through could take it to the next resistance level of 0.9956.
Trading trends in the pair today are expected to be determined by the release of Canadian unemployment rate which is expected to remain unchanged at 7.3% in August. Investors also await Ivey Purchasing Managers Index in Canada.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
