USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 0.9960.
On the economic front, the Teranet-National Bank National composite house price index in Canada declined 0.2% (MoM) in October, compared to a 0.4% drop in September. Meanwhile, on an annual basis, the index rose 3.4% in October, compared to a 3.6% rise recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 0.996, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 0.9947, and a fall through could take it to the next support level of 0.9933. The pair is expected to find its first resistance at 0.9983, and a rise through could take it to the next resistance level of 1.0006.
Trading trends in the pair today are expected to be determined by the release of retail sales data in the Canada.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
