USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.18% against the CAD to close at 1.1319.
On the macro front, the Teranet/National Bank of Canada indicated that Canada’s house price index advanced 0.20% on a monthly basis in October, compared to a 0.40% gain in the prior month.
In the Asian session, at GMT0400, the pair is trading at 1.1319, with the USD trading flat from yesterday’s close.
The pair is expected to find support at 1.1278, and a fall through could take it to the next support level of 1.1238. The pair is expected to find its first resistance at 1.1360, and a rise through could take it to the next resistance level of 1.1402.
Meanwhile, market participants await Canada’s new housing price index data, scheduled later in the day.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
