USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.33% against the CAD on Friday to close at 0.9719.
In Canada, employment increased by 15100 in February compared to an increase of 69200 in January. Meanwhile, unemployment rate remained unchanged at 7.8% (M-o-M) in February.
In the Asian session at 4:00GMT, the pair is trading at 0.9738, 0.20% higher from the New York session close.
The first area of short term resistance is observed at 0.9790, followed by 0.9841 and 0.9932. The first area of support is at 0.9699, with the subsequent supports at 0.9659 and 0.9568.
Trading trends in the pair today are expected to be determined by release of data on capacity utilization in Canada.
The currency pair is showing convergence with its 20 Hr moving average and its 50 Hr moving average.
