USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 4.03% against the CAD and closed at 1.3568.
On the data front, Canada’s consumer price index fell 0.4% on a yearly basis in May, compared to a drop of 0.2% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3584, with the USD trading 0.12% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3528, and a fall through could take it to the next support level of 1.3471. The pair is expected to find its first resistance at 1.3625, and a rise through could take it to the next resistance level of 1.3665.
Going forward, traders would keep a watch on Canada’s new housing price index for May, slated to release in later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
