USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CAD to close at 0.9841, as sentiment were dented after Spain’s Prime Minister stated that a request for a debt bailout for his country is not imminent
In the Asian session, at GMT0300, the pair is trading at 0.9851, with the USD trading 0.1% higher from yesterday’s close.
The pair is expected to find support at 0.9825, and a fall through could take it to the next support level of 0.9799. The pair is expected to find its first resistance at 0.9864, and a rise through could take it to the next resistance level of 0.9877.
With no other major economic releases in Canada today, the pair is likely to respond to the prevalent risk sentiment in the market.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
