USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.06% against the CAD to close at 1.0906.
On macro front, Canada’s new housing prices climbed for a consecutive seventh month, registering a 0.2% rise in June, on monthly basis. In the previous month, the index rose 0.1%.
In the Asian session, at GMT0300, the pair is trading at 1.0901, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.0882, and a fall through could take it to the next support level of 1.0863. The pair is expected to find its first resistance at 1.0921, and a rise through could take it to the next resistance level of 1.0941.
Going forward, investor sentiment would be governed by Canada’s employment figures, scheduled later in the day.
The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
