USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.49% against the CAD to close at 0.9923. Loonie rose, as risk aversion eased after reports that Italy had asked China to make “significant” purchases of Italian debt.
In the Asian session at 3:00GMT, USD is trading at 0.9920, flat against the Canadian dollar from yesterday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9995, followed by 1.0070 and 1.0188. The first area of support is at 0.9877, with the subsequent supports at 0.9834 and 0.9716.
The currency pair is trading below its 20 Hr and its 50 Hr moving averages.
