USD/CAD: Canada’s existing home sales climbed in March


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CAD and closed at 1.2606 on Friday.

Macroeconomic data indicated that Canada’s existing home sales rebounded 1.3% on a monthly basis, in March, after recording a drop of 6.5% in the previous month.

In the Asian session, at GMT0300, the pair is trading at 1.2609, with the USD trading 0.02% higher against the CAD from Friday’s close.

The pair is expected to find support at 1.2568, and a fall through could take it to the next support level of 1.2527. The pair is expected to find its first resistance at 1.2634, and a rise through could take it to the next resistance level of 1.2659.

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

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