USDCAD Movement
For the 24 hours to 23:00 GMT, the USD traded flat against the CAD to close at 0.9749.
In the US, the National Association of Realtors reported that the existing home sales rose 7.8% (MoM) in August, highest pace since May 2010 and surpassing expectations for a 2.0% rise.
Meanwhile, the Bank of Canada, Governor, Mark Carney, reiterated its view that the high commodity prices are unambiguously good for Canada’s economy.
In the Asian session, at GMT0300, the pair is trading at 0.9761, with the USD trading 0.12% higher from yesterday’s close.
The pair is expected to find support at 0.9737, and a fall through could take it to the next support level of 0.9712. The pair is expected to find its first resistance at 0.9775, and a rise through could take it to the next resistance level of 0.9788.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
