USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.13% against the CAD and closed at 1.3057.
Macroeconomic data indicated that Canada’s existing home sales advanced 0.9% on a monthly basis in August, rising for the fourth consecutive month and compared to a gain of 1.9% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3046, with the USD trading 0.08% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3011, and a fall through could take it to the next support level of 1.2976. The pair is expected to find its first resistance at 1.3073, and a rise through could take it to the next resistance level of 1.3100.
Going ahead, traders would closely monitor Canada’s manufacturing sales for July, scheduled to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
