USDCAD Movement
For the 24 hours to 23:00 GMT, the USD traded flat against the CAD and closed at 1.3235.
On the data front, Canada’s Teranet/National Bank house price index recorded a rise of 2.2% MoM in May. In the prior month, the index had climbed 1.2%.
In the Asian session, at GMT0300, the pair is trading at 1.3244, with the USD trading 0.07% higher against the CAD from yesterday’s close.
The pair is expected to find support at 1.3182, and a fall through could take it to the next support level of 1.3121. The pair is expected to find its first resistance at 1.3288, and a rise through could take it to the next resistance level of 1.3333.
Looking ahead, Canada’s existing home sales data for May, slated to release later in the day, will be on investors’ radar.
The currency pair is trading above its 20 Hr moving average and showing convergence with its 50 Hr moving average.
