USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.20% against the CAD to close at 0.9810.
US Treasury Secretary, Timothy Geithner informed policy makers and entrepreneurs that the US small businesses need greater access to capital to spur innovation.
In Canada, federal budget tabled by Finance Minister Jim Flaherty, calls for annual cuts of $4 billion each year till 2014.
In Canada, retail sales declined by 0.3% (M-o-M) to C$37.1 billion in January, the second consecutive monthly decline, following a revised 0.3% decline recorded in December. Additionally, leading indicators index rose by 0.8% (M-o-M) in February from 0.4% rise in January.
In the Asian session at 4:00GMT, the pair is trading flat from the New York session close.
The first area of short term resistance is observed at 0.9846, followed by 0.9881 and 0.9969. The first area of support is at 0.9758, with the subsequent supports at 0.9705 and 0.9617.
The currency pair is showing convergence with its 20 Hr moving average and 50 Hr moving average.
