USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.38% against the CAD and closed at 1.2680.
In the Asian session, at GMT0300, the pair is trading at 1.2665, with the USD trading 0.12% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2625, and a fall through could take it to the next support level of 1.2585. The pair is expected to find its first resistance at 1.271, and a rise through could take it to the next resistance level of 1.2755.
Looking ahead, Canada’s housing starts data for July, slated to release later in the day, will grab a lot of market attention.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
