USDCAD Movement
For the 24 hours to 23:00 GMT, the USD gained 0.14% against the CAD to close at 1.1972. Canadian existing home sales dropped 5.8% on a monthly basis in December, compared to a flat reading recorded in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.1968, with the USD trading a tad lower from yesterday’s close.
The pair is expected to find support at 1.1847, and a fall through could take it to the next support level of 1.1726. The pair is expected to find its first resistance at 1.2044, and a rise through could take it to the next resistance level of 1.2119.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
