USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.17% against the CAD and closed at 1.3324.
On Thursday, data revealed that Canada’s new housing price index advanced 0.4% on a monthly basis in February, more than market expectations for a rise of 0.2% and following a gain of 0.1% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3322, with the USD trading marginally lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3277, and a fall through could take it to the next support level of 1.3232. The pair is expected to find its first resistance at 1.3350, and a rise through could take it to the next resistance level of 1.3378.
Ahead in the day, traders would keep a close watch on Canada’s existing home sales data for March.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
