USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.61% against the CAD to close at 1.0948.
In economic news, the Teranet and the National Bank of Canada indicated that the composite house price index in Canada, on a monthly basis rose 0.10% to a reading of 159.29 in December, following a drop of 0.10% recorded in the previous month. Meanwhile, on an annual basis, Canadian home prices increased 3.80% in December, compared to a 3.40% gain recorded in November.
In the Asian session, at GMT0400, the pair is trading at 1.0974, with the USD trading 0.24% higher from yesterday’s close.
The pair is expected to find support at 1.0908, and a fall through could take it to the next support level of 1.0841. The pair is expected to find its first resistance at 1.1010, and a rise through could take it to the next resistance level of 1.1045.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
