USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.59% against the CAD to close at 0.9447.
In Canada, real GDP decreased 0.2% in February, following a rise of 0.5% in January.
In the Asian session at 3:00GMT, the pair is trading at 0.9480, 0.35% higher from the New York session close.
The first area of short term resistance is observed at 0.9540, followed by 0.9601 and 0.9712. The first area of support is at 0.9429, with the subsequent supports at 0.9379 and 0.9268.
With a series of Canada economic releases today, including industrial product price and raw materials price index, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
