USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.24% against the CAD to close at 1.0007.
The Loonie gained against the Dollar, after reports showed that the Canada’s economy added more-than-expected jobs in April.
In Canada, employment rose by 58,200 jobs in April, against expectation of 10,000 rise, and compared to jump of 82,300 in March. Additonally, unemployment rate remained at 7.3% in line with the market expectation.
In the Asian session, at GMT0300, the pair is trading at 1.0005, with the USD trading marginaly lower from Friday’s close.
The pair is expected to find support at 0.9955, and a fall through could take it to the next support level of 0.9904. The pair is expected to find its first resistance at 1.0055, and a rise through could take it to the next resistance level of 1.0106.
The currency pair showing convergence with its 20 Hr moving average and is trading below its 50 Hr moving average.
