USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.39% against the CAD and closed at 1.2681.
Macroeconomic data showed that Canada’s new house price index rose 0.2% MoM in September, meeting market expectations. The index had registered a gain of 0.1% in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.2670, with the USD trading 0.09% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2646, and a fall through could take it to the next support level of 1.2621. The pair is expected to find its first resistance at 1.2716, and a rise through could take it to the next resistance level of 1.2761.
Investors would direct their attention to Canada’s crucial inflation figures, set to release later next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
