USDCAD Movement
On Friday, for the 24 hours to 23:00 GMT, USD rose 0.73% against the CAD to close at 1.0024.
In economic news, the trade surplus in Canada widened to C$2.7 billion in December, compared to a surplus of C$1.2 billion recorded in November.
In the Asian session, at GMT0400, the pair is trading at 0.9993, with the Canadian dollar trading 0.31% higher from Friday’s close, as risk appetite rose after Greece passed austerity measures to secure an international bailout.
The pair is expected to find support at 0.9953, and a fall through could take it to the next support level of 0.9914. The pair is expected to find its first resistance at 1.0035, and a rise through could take it to the next resistance level of 1.0078.
With no key economic releases in the day ahead, CAD is expected to ride on general market cues against the greenback.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
