USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.18% against the CAD to close at 1.1841.
In economic news, the new housing price index in Canada remained unchanged at 0.1% on a MoM basis in November, at par with market expectations.
In the Asian session, at GMT0400, the pair is trading at 1.1819, with the USD trading 0.18% lower from yesterday’s close.
The pair is expected to find support at 1.1793, and a fall through could take it to the next support level of 1.1767. The pair is expected to find its first resistance at 1.1846, and a rise through could take it to the next resistance level of 1.1872.
Meanwhile, investors await Canada’s crucial unemployment rate data, scheduled later today.
The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.
