USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.52% against the CAD to close at 1.0201.
Canadian dollar rose against the greenback amid a rise in the commodity prices, supported by improved investors risk appetite over rising optimism for a solution to the Euro zone debt crisis.
In the Asian session at 3:00GMT, USD is trading at 1.0238, 0.36% higher against the Canadian dollar from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 1.0298, followed by 1.0358 and 1.0495. The first area of support is at 1.0161, with the subsequent supports at 1.0084 and 0.9947.
Trading trends in the pair today are expected to be determined by release of Teranet/National Bank House Price Index in Canada.
The currency pair is trading between its 20 Hr and its 50 Hr moving averages.
