USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.83% against the CAD to close at 1.1036. The CAD lost ground, after the nation’s new housing price index remained flat, on a monthly basis in July, lower than market expectations for a 0.2% gain and following a similar increase registered in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.1054, with the USD trading 0.16% higher from yesterday’s close.
The pair is expected to find support at 1.0982, and a fall through could take it to the next support level of 1.0911. The pair is expected to find its first resistance at 1.1093, and a rise through could take it to the next resistance level of 1.1133.
Next week’s consumer prices data of Canada will be keenly awaited by the investors.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
