For the 24 hours to 23:00 GMT, the USD rose 6.89% against the CAD and closed at 1.3940.
In the Asian session, at GMT0300, the pair is trading at 1.3964, with the USD trading 0.17% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3896, and a fall through could take it to the next support level of 1.3827. The pair is expected to find its first resistance at 1.4061, and a rise through could take it to the next resistance level of 1.4157.
Looking ahead, traders would keep a close watch on Canada’s new housing price index for April, slated to release later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.