USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined marginally against the CAD to close at 1.0186, after US retail sales increased less-than-forecast and jobless-benefits claims fell, damping demand for riskier assets.
In economic news, the New Housing Price Index in Canada advanced 0.3% (MoM) in November, from a 0.2% (MoM) increase in October.
In the Asian session, at GMT0400, the pair is trading at 1.0190, with the USD trading 0.04% higher from yesterday’s close.
The pair is expected to find support at 1.0150, and a fall through could take it to the next support level of 1.0110. The pair is expected to find its first resistance at 1.0221, and a rise through could take it to the next resistance level of 1.0251.
The pair is expected to trade on the cues from the release of the International Merchandise Trade data in Canada.
The currency pair is trading just above its 20 Hr and its 50 Hr moving averages.
