USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.44% against the CAD to close at 1.0072. The Canadian Dollar came under pressure, after new house prices in Canada rose 0.2% (YoY) in March, slower than the 2.1% increase recorded in the previous month. Market had expected a rise of 2.1%. On a monthly basis, prices rose 0.1% in March, in line with market expectations and following a 0.2% growth in February.
In the Asian session, at GMT0300, the pair is trading at 1.0080, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.0031, and a fall through could take it to the next support level of 0.9982. The pair is expected to find its first resistance at 1.0110, and a rise through could take it to the next resistance level of 1.0140.
Trading trends in the pair today are expected to be determined by Canadian jobs data scheduled to be released later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
