USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.45% against the CAD to close at 1.2894.
The Canadian dollar gained ground, after Canada’s existing home sales advanced 3.1% MoM in April, following a 1.5% rise in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2842, with the USD trading 0.40% lower from yesterday’s close.
The pair is expected to find support at 1.2805, and a fall through could take it to the next support level of 1.2767. The pair is expected to find its first resistance at 1.2916, and a rise through could take it to the next resistance level of 1.2989.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
