USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.26% against the CAD and closed at 1.2688.
The Canadian Dollar fell against the USD, after data showed that Canada’s existing home sales dropped 6.7% on a monthly basis in June, posting its largest monthly drop since 2010 and following a decline of 6.2% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2655, with the USD trading 0.26% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2622, and a fall through could take it to the next support level of 1.2588. The pair is expected to find its first resistance at 1.2695, and a rise through could take it to the next resistance level of 1.2734.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
