USDCAD Movement
For the 24 hours to 23:00 GMT, the USD traded a tad higher against the CAD to close at 1.1298.
In economic news, Canada’s existing home sales advanced 0.7% on a monthly basis in October. It had recorded a drop of 1.4% in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.1281, with the USD trading 0.15% lower from yesterday’s close.
The pair is expected to find support at 1.1257, and a fall through could take it to the next support level of 1.1233. The pair is expected to find its first resistance at 1.1317, and a rise through could take it to the next resistance level of 1.1353.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
