USD/CAD: Canada’s new house price index climbed as expected in January


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CAD and closed at 1.3509.

On the economic front, Canada’s new housing price index advanced 0.1% in January, in line with market anticipations and compared to a similar rise in the prior month.

In the Asian session, at GMT0400, the pair is trading at 1.3498, with the USD trading 0.08% lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.3473, and a fall through could take it to the next support level of 1.3449. The pair is expected to find its first resistance at 1.3528, and a rise through could take it to the next resistance level of 1.3559.

This afternoon will bring an important Canadian release, namely unemployment rate for February.

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

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