USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.93% against the CAD, on Friday, to close at 0.9851.
The Canadian dollar came under pressure, after the US jobs report for August came in far weaker than expected, reigniting fears over a global growth slowdown and sending investors to safe-haven assets.
Loonie also remained weaker, pressured by falling prices of oil, Canada’s biggest export.
In the Asian session at 3:00GMT, the Canadian Dollar is trading at 0.9865, 0.14% lower against the greenback from Friday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9909, followed by 0.9954 and 1.0076. The first area of support is at 0.9787, with the subsequent supports at 0.9710 and 0.9588.
The currency pair is trading above its 20 Hr and its 50 Hr moving average.
