USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.40% against the CAD to close at 1.0757.
On the macro front, existing home sales in Canada increased 0.8% in June, on a monthly basis, as compared to a 5.9% rise in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0763, with the USD trading 0.06% higher from yesterday’s close.
The pair is expected to find support at 1.0731, and a fall through could take it to the next support level of 1.0700. The pair is expected to find its first resistance at 1.0782, and a rise through could take it to the next resistance level of 1.0802.
The Bank of Canada’s interest rate decision, scheduled later during the day, would be closely watched by the traders.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
