USD/CAD: Loonie extends its gains this morning

USDCAD

USDCAD Movement

For the 24 hours to 23:00 GMT, the USD declined 0.11% against the CAD to close at 1.3242.

In economic news, existing home sales rebounded 0.3% on a monthly basis in August, following a 0.4% drop in July.

In the Asian session, at GMT0300, the pair is trading at 1.3237, with the USD trading a tad lower from yesterday’s close.

The pair is expected to find support at 1.3216, and a fall through could take it to the next support level of 1.3196. The pair is expected to find its first resistance at 1.3265, and a rise through could take it to the next resistance level of 1.3294.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

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