USDCAD Movement
On Friday, the USD rose 0.52% against the CAD to close at 1.1093.
In economic news, the Teranet/National Bank house price index in Canada registered a rise of 0.8%, on a monthly basis, in August. The index had climbed 1.1% in July.
In the Asian session, at GMT0300, the pair is trading at 1.1093, with the USD traded flat from Friday’s close.
The pair is expected to find support at 1.1048, and a fall through could take it to the next support level of 1.1002. The pair is expected to find its first resistance at 1.1119, and a rise through could take it to the next resistance level of 1.1144.
Trading trends in the CAD today are expected to be determined by Canada’s existing home sales, scheduled later today.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
