USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.08% against the CAD to close at 1.1119.
In Canada, the Teranet/National Bank composite house price index rose 0.3% (MoM) in February, following a 0.4% increase registered in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.1094, with the USD trading 0.22% lower from yesterday’s close.
The pair is expected to find support at 1.1071, and a fall through could take it to the next support level of 1.1048. The pair is expected to find its first resistance at 1.1136, and a rise through could take it to the next resistance level of 1.1178.
Later today, the Statistics Canada is expected to release a report on the nation’s new housing price index for the month of January.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
