USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.29% against the CAD and closed at 1.2932.
In economic news, Canada’s existing home sales declined by 0.9% on a monthly basis in June, falling for second consecutive month and after recording a drop of 2.8% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2951, with the USD trading 0.15% higher against the CAD from Friday’s close.
The pair is expected to find support at 1.2877, and a fall through could take it to the next support level of 1.2802. The pair is expected to find its first resistance at 1.3006, and a rise through could take it to the next resistance level of 1.3060.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
