USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose marginally against the CAD to close at 0.9495.
In the Asian session at 3:00GMT, the pair is trading at 0.9503, 0.08% higher from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9534, followed by 0.9564 and 0.9635. The first area of support is at 0.9463, with the subsequent supports at 0.9422 and 0.9351.
With a series of Canada economic releases today, including Gross Domestic Product and industrial product price, trading in the pair is expected to be influenced by the resulting cues from these releases.
The currency pair is trading above its 20 Hr moving average and its 50 Hr moving average.
