USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.14% against the CAD and closed at 1.2179.
In economic news, Canada’s new house price index rose 0.4% on a monthly basis in July, in line with market expectations. In the prior month, the index had recorded a rise of 0.2%.
In the Asian session, at GMT0300, the pair is trading at 1.2180, with the USD trading slightly higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2169, and a fall through could take it to the next support level of 1.2159. The pair is expected to find its first resistance at 1.2189, and a rise through could take it to the next resistance level of 1.2199.
Ahead in the day, market participants will focus on Canada’s existing home sales data for August.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
