USDCAD Movement
For the 24 hours to 23:00 GMT, the USD marginally declined against the CAD to close at 1.0651.
On the macro front, new housing price index in Canada advanced 1.5% in May on an annual basis, compared to a 1.6% rise in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0637, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1.0622, and a fall through could take it to the next support level of 1.0607. The pair is expected to find its first resistance at 1.0665, and a rise through could take it to the next resistance level of 1.0693.
Trading trends in the pair today are expected to be determined by the employment data from Canada to be released during the day, which would give a clear picture of the health of the labour market in Canada.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
