USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.42% against the CAD to close at 1.1954, after the US retail sales remained flat in April.
In economic news, the house price index in Canada rose less than expected by 0.1% MoM in April, compare to market expected rise of 0.2%. The index had advanced 0.3% in the preceding month.
In the Asian session, at GMT0300, the pair is trading at 1.1955, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 1.1912, and a fall through could take it to the next support level of 1.1869. The pair is expected to find its first resistance at 1.2014, and a rise through could take it to the next resistance level of 1.2073.
Moving ahead, investors would monitor Canada’s new housing price index, scheduled later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
