USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.26% against the CAD, on Friday, to close at 0.9609.
Canadian dollar declined against the greenback as the weak US jobs data raised investors concerns that the US economic recovery would slow in coming months.
In Canada, the employment rose by 28,000 jobs in June following a 22,000 jobs increase in May. Meanwhile, the unemployment rate remained unchanged at 7.4%.
In the Asian session at 3:00GMT, the pair is trading at 0.9627, 0.19% higher from Friday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9673, followed by 0.9720 and 0.9820. The first area of support is at 0.9573, with the subsequent supports at 0.9520 and 0.9420.
Trading trends in the pair today are expected to be determined by data release on gross domestic product and housing starts in Canada.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
