USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.47% against the CAD to close at 1.1138, after a report revealed that new home sales in the US rose to its highest level since July 2008 in January.
In the Asian session, at GMT0400, the pair is trading at 1.1128, with the USD trading 0.09% lower from yesterday’s close.
The pair is expected to find support at 1.1083, and a fall through could take it to the next support level of 1.1037. The pair is expected to find its first resistance at 1.1160, and a rise through could take it to the next resistance level of 1.1191.
Later today, the Statistics Canada is scheduled to release a report on the nation’s current account balance for the fourth quarter.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
