USDCAD Movement
For the 24 hours to 23:00 GMT on Friday, USD rose 0.06% against the CAD to close at 0.9909.
On the economic front, in Canada, trade balance contracted to $2.10 billion in January, from $2.86 billion in December. Separately, the unemployment rate in Canada fell to 7.4% in February, compared to a rate of 7.6% recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.9922, with the USD trading 0.13% higher from Friday’s close.
The pair is expected to find support at 0.9884, and a fall through could take it to the next support level of 0.9846. The pair is expected to find its first resistance at 0.9948, and a rise through could take it to the next resistance level of 0.9975.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
