USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 0.9750.
In the US, the current account trade deficit narrowed to $117.4 billion in the April-June quarter down from a deficit of $133.6 billion in the January-March quarter.
In the Asian session, at GMT0300, the pair is trading at 0.9748, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 0.9731, and a fall through could take it to the next support level of 0.9715. The pair is expected to find its first resistance at 0.9765, and a rise through could take it to the next resistance level of 0.9783.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
