USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.08% against the CAD to close at 1.0088.
In the Asian session, at GMT0400, the pair is trading at 1.0097, with the USD trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 1.0065, and a fall through could take it to the next support level of 1.0032. The pair is expected to find its first resistance at 1.0131, and a rise through could take it to the next resistance level of 1.0166.
The pair is expected to trade on the cues from the release of housing starts data and New Housing Price Index in Canada.
The currency pair is showing convergence with its 20 Hr and is trading below its 50 Hr moving average.
