USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.14% against the CAD and closed at 1.2803.
On the data front, Canada’s new housing price index advanced 0.1% MoM in October, compared to a rise of 0.2% in the prior month, while markets had anticipated for a gain of 0.2%.
In the Asian session, at GMT0400, the pair is trading at 1.2780, with the USD trading 0.18% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2707, and a fall through could take it to the next support level of 1.2635. The pair is expected to find its first resistance at 1.2859, and a rise through could take it to the next resistance level of 1.2939.
Ahead in the day, Canada’s existing home sales data for November, will be on investor’s radar.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
