USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.35% against the CAD and closed at 1.3195.
In economic news, Canada’s new housing price index rose by 0.2% on a monthly basis in August, advancing for the 17th consecutive month. Meanwhile, markets expected for a rise of 0.3%, following a gain of 0.4% in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.3194, with the USD trading marginally lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3147, and a fall through could take it to the next support level of 1.3101. The pair is expected to find its first resistance at 1.3273, and a rise through could take it to the next resistance level of 1.3353.
Going forward, BoC’s interest rate decision accompanied with Canada’s consumer price inflation for September and retail sales for August, slated for release next week, would pique significant amount of investor attention.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
