USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.12% against the CAD to close at 1.2310.
In economic news, the house price index in Canada advanced 0.90% MoM in May. The index had recorded a rise of 0.20% in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.2332, with the USD trading 0.18% higher from Friday’s close.
The pair is expected to find support at 1.2289, and a fall through could take it to the next support level of 1.2246. The pair is expected to find its first resistance at 1.2362, and a rise through could take it to the next resistance level of 1.2392.
Investors would now wait for Canadian manufacturing shipment data, scheduled to release in a few hours.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
