USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose marginally against the CAD to close at 1.0949.
In economic news, existing home sales in Canada declined 1.8% (MoM) in December, compared to a 0.1% drop registered in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.0931, with the USD trading 0.16% lower from yesterday’s close.
The pair is expected to find support at 1.0902, and a fall through could take it to the next support level of 1.0874. The pair is expected to find its first resistance at 1.0976, and a rise through could take it to the next resistance level of 1.1022.
Later today, the Statistics Canada is expected to publish a report on the amount of Canadian portfolio investment in foreign securities, along with a separate report on the amount of foreign portfolio investment in Canadian securities, during November.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
