USDCAD Movement

For the 24 hours to 23:00 GMT, USD rose 0.27% against the CAD to close at 1.0268, as risk aversion increased among investors after weak economic data from the Euro-zone and following concern that economic growth is slowing in the US.

In the US, durable goods orders rose lower-than-expected by 0.2% in April, against the market expectation of a 0.7% rise.

In the Asian session, at GMT0300, the pair is trading at 1.0280, with the USD trading 0.12% higher from yesterday’s close.

The pair is expected to find support at 1.0239, and a fall through could take it to the next support level of 1.0198. The pair is expected to find its first resistance at 1.0309, and a rise through could take it to the next resistance level of 1.0337.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.