USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.72% against the CAD to close at 1.3068, after Canada’s house prices rose 0.30% MoM in June, the highest since August 2014, more than market expectations and prior month’s advance.
In the Asian session, at GMT0300, the pair is trading at 1.3076, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.2993, and a fall through could take it to the next support level of 1.2911. The pair is expected to find its first resistance at 1.3125, and a rise through could take it to the next resistance level of 1.3174.
Trading trends in CAD today are expected to be determined by Canada’s manufacturing shipments data for June.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
