USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.11% against the CAD and closed at 1.3211.
On the macro front, Canada’s new housing price index eased 0.1% on a monthly basis in July, following a similar fall in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3219, with the USD trading 0.06% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3190, and a fall through could take it to the next support level of 1.3162. The pair is expected to find its first resistance at 1.3234, and a rise through could take it to the next resistance level of 1.3250.
Going forward, traders would keep an eye on Canada’s consumer price index, existing home sales, retail sales and manufacturing shipments, set to release next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
