USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CAD and closed at 1.2753.
Macroeconomic data showed that Canada’s existing home sales eased 2.1% on a monthly basis in July, dropping for the fourth consecutive month. In the previous month, existing home sales had recorded a fall of 6.7%.
In the Asian session, at GMT0300, the pair is trading at 1.2761, with the USD trading 0.06% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.2728, and a fall through could take it to the next support level of 1.2695. The pair is expected to find its first resistance at 1.2786, and a rise through could take it to the next resistance level of 1.2811.
The currency pair is showing convergence with its 20 Hr moving average and above its 50 Hr moving average.
