USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.66% against the CAD, on Friday, to close at 0.9691, amid fresh worries over the European debt crisis. The greenback gained ground, after the European Union warned that the debt loads of Greece, Ireland and Portugal would be much bigger than previously forecasted. The assessment added to fears that international bailouts are failing to solve the region’s crisis.
In Canada, the number of new motor vehicles sold increased by 2.0% to135,261 units in March from 0.6% decline in February.
In the Asian session at 3:00GMT, the pair is trading at 0.9692, flat from the New York session close.
The first area of short term resistance is observed at 0.9758, followed by 0.9825 and 0.9971. The first area of support is at 0.9612, with the subsequent supports at 0.9533 and 0.9387.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
