USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.53% against the CAD to close at 1.0234.
In Canada, new house prices rose less-than-expected in April, climbing 0.2% (MoM), following a 0.3% increase in March. Additionally, capacity utilization rate rose to 80.7% in the first quarter of 2012.
In the Asian session, at GMT0300, the pair is trading at 1.0238, with the USD trading 0.04% higher from yesterday’s close.
The pair is expected to find support at 1.0209, and a fall through could take it to the next support level of 1.0180. The pair is expected to find its first resistance at 1.0281, and a rise through could take it to the next resistance level of 1.0324.
Trading trends in the pair today are expected to be determined by the release of manufacturing shipments data in Canada.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
