USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.75% against the CAD, on Friday, to close at 0.9742, despite a rally in crude oil prices as disappointing economic data dragged the Loonie into negative territories.
In Canada, the retail sales, on a monthly basis, remained flat in March, following an upwardly revised 0.5% rise recorded in February. Meanwhile, the consumer price index, on a seasonally adjusted monthly basis, rose by 0.3% in April, following a 0.8% rise recorded in March.
In the Asian session at 3:00GMT, the pair is trading at 0.9763, 0.22% higher from the New York session close.
The first area of short term resistance is observed at 0.9812, followed by 0.9860 and 0.9997. The first area of support is at 0.9675, with the subsequent supports at 0.9586 and 0.9449.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
