USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CAD to close at 1.0889.
The Canadian Dollar posted gains yesterday, on the back of rise in commodity prices. Meanwhile, on the economic front, the Canadian Teranet/National Bank HPI reported a rise in April.
In the Asian session, at GMT0300, the pair is trading at 1.0880, with the USD trading 0.08% lower from yesterday’s close.
The pair is expected to find support at 1.0858, and a fall through could take it to the next support level of 1.0835. The pair is expected to find its first resistance at 1.0913, and a rise through could take it to the next resistance level of 1.0945.
During the later course of the day, the Statistics Canada is expected to publish a report on Canada’s manufacturing shipments for the month of March and existing home sales figures for April.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
