USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.06% against the CAD and closed at 1.3068.
Data showed that Canada’s new housing price index remained flat on an annual basis in May, defying market anticipations for a climb of 0.2%. The index had advanced 0.1% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.3039, with the USD trading 0.22% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3020, and a fall through could take it to the next support level of 1.3001. The pair is expected to find its first resistance at 1.3075, and a rise through could take it to the next resistance level of 1.3111.
Moving forward, traders would closely monitor Canada’s existing home sales, retail sales, manufacturing sales and consumer price index, all scheduled to release next week.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
