USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.47% against the CAD, on Friday, to close at 0.9795.
Canadian dollar rose against the greenback after a report showed greater-than-forecasted purchases of Canadian securities by foreign investors.
The foreign investment in Canadian securities rose to C$11.78 billion in July, following a drop of C$3.45 billion in June. Meanwhile, the Canadian investment in foreign securities dropped to C$1.28 billion in July, following a drop of C$0.44 billion recorded in June.
In the Asian session at 3:00GMT, USD is trading at 0.9835, 0.41% higher against the Canadian dollar from Friday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9870, followed by 0.9906 and 0.9986. The first area of support is at 0.9790, with the subsequent supports at 0.9746 and 0.9666.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
