USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.21% against the CAD to close at 1.0378.
On the Canadian economic front, the New Housing Price Index (NHPI) advanced 0.1% (MoM) in May, less than the market expectations of a 0.2% rise and compared to a 0.2% gain reported in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0364, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1.0313, and a fall through could take it to the next support level of 1.0261. The pair is expected to find its first resistance at 1.0427, and a rise through could take it to the next resistance level of 1.0489.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
