USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.19% against the CAD and closed at 1.2791 on Friday.
On the macro front, Canada’s unemployment rate remained steady at 5.8% in April, meeting market expectations.
In the Asian session, at GMT0300, the pair is trading at 1.2785, with the USD trading 0.05% lower against the CAD from Friday’s close.
The pair is expected to find support at 1.2743, and a fall through could take it to the next support level of 1.2702. The pair is expected to find its first resistance at 1.2813, and a rise through could take it to the next resistance level of 1.2842.
Later today, investors would look forward to Canada’s Teranet/National Bank house price index for April.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
