USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose marginally against the CAD, on Friday, to close at 0.9866.
In the US, the retail sales increased 0.5% (M-o-M) in July, following 0.3% growth in June.
In the Asian session at 3:00GMT, the pair is trading at 0.9881, 0.15% higher from Friday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9918, followed by 0.9954 and 1.0026. The first area of support is at 0.9846, with the subsequent supports at 0.9810 and 0.9738.
Trading trends in the pair today are expected to be determined by data release on new motor vehicle sales in Canada.
The currency pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
