USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.38% against the CAD, on Friday, to close at 0.9478.
In the economic news, the retail sales in Canada rose by 0.1% (M-o-M) in May to C$37.5 billion following a 0.3% rise in the previous month. Additionally, the Consumer Price Index (CPI), on a seasonally adjusted monthly basis, declined by 0.4% (M-o-M) in June following a 0.7% rise in the previous month.
In the Asian session at 3:00GMT, the pair is trading at 0.9516, 0.40% higher from Friday’s close at 23:00 GMT.
The first area of short term resistance is observed at 0.9557, followed by 0.9597 and 0.9705. The first area of support is at 0.9449, with the subsequent supports at 0.9381 and 0.9273.
The currency pair is trading above its 20 Hr and its 50 Hr moving averages.
