USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.24% against the CAD to close at 1.0525, as better than expected US macroeconomic data added to evidence that the Federal Reserve might taper its bond-buying.
In the Asian session, at GMT0300, the pair is trading at 1.0503, with the USD trading 0.21% lower from yesterday’s close.
The pair is expected to find support at 1.0455, and a fall through could take it to the next support level of 1.0407. The pair is expected to find its first resistance at 1.0550, and a rise through could take it to the next resistance level of 1.0597.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
