USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.74% against the CAD to close at 1.1659, following upbeat economic releases in the US.
In economic news, existing home sales in Canada remained unchanged on a monthly basis in November, following a rise of 0.7% registered in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.1638, with the USD trading 0.18% lower from yesterday’s close.
The pair is expected to find support at 1.1565, and a fall through could take it to the next support level of 1.1491. The pair is expected to find its first resistance at 1.1693, and a rise through could take it to the next resistance level of 1.1748.
Amid a light economic calendar in Canada today, investor sentiment would be governed by global macroeconomic news.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
