USD/CAD: Canada’s new house price index climbed in March


USDCAD Movement

For the 24 hours to 23:00 GMT, the USD rose 0.2% against the CAD and closed at 1.3703.

On the macro front, Canada’s new housing price index registered a rise of 0.2% on a monthly basis in March, in line with market expectations. In the previous month, the index had advanced 0.4%.

In the Asian session, at GMT0300, the pair is trading at 1.3698, with the USD trading marginally lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.3659, and a fall through could take it to the next support level of 1.3621. The pair is expected to find its first resistance at 1.3753, and a rise through could take it to the next resistance level of 1.3809.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.

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