USDCAD Movement
For the 24 hours to 23:00 GMT, the USD traded flat against the CAD and closed at 1.3472.
On the data front, Canada’s new housing price index rose 0.1% on a yearly basis in March, at par with market expectations. In the prior month, the index had registered a similar rise.
In the Asian session, at GMT0300, the pair is trading at 1.3463, with the USD trading 0.07% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3431, and a fall through could take it to the next support level of 1.3399. The pair is expected to find its first resistance at 1.3500, and a rise through could take it to the next resistance level of 1.3537.
Trading trend in the Loonie today is expected to be determined by Canada’s building permits for March and unemployment rate for April, slated to release later in the day.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
