For the 24 hours to 23:00 GMT, the USD declined 0.41% against the CAD and closed at 1.3290.
Data showed that Canada’s new housing price index fell less than expected by 0.3% on an annual basis in August, following a drop of 0.4% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3291, with the USD trading marginally higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3266, and a fall through could take it to the next support level of 1.3242. The pair is expected to find its first resistance at 1.3318, and a rise through could take it to the next resistance level of 1.3346.
Trading trend in the Loonie today is expected to be determined by Canada’s unemployment rate for September, slated to release later in the day.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.