USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 1.01% against the CAD to close at 1.0178.
Canadian dollar rose as investors’ risk appetite increased after the European officials agreed on a plan to recapitalize the region’s banks.
In Canada, the New Housing Price Index rose 0.1% (M-o-M) in August, following a similar increase in July.
In the Asian session, at GMT0300, the pair is trading at 1.0192, with the USD trading 0.14% higher from yesterday’s close.
The pair is expected to find support at 1.0115, and a fall through could take it to the next support level of 1.0037. The pair is expected to find its first resistance at 1.0288, and a rise through could take it to the next resistance level of 1.0383.
The pair is expected to trade on the cues from the release of international merchandise trade data in Canada.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
