USDCAD Movement
For the 24 hours to 23:00 GMT, the USD traded marginally higher against the CAD to close at 1.1956.
In economic news, Canada’s Teranet/National Bank house price index eased 0.2% on a monthly basis in December, compared to a drop of 0.3% recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.1962, with the USD trading a tad higher from yesterday’s close.
The pair is expected to find support at 1.1919, and a fall through could take it to the next support level of 1.1876. The pair is expected to find its first resistance at 1.2012, and a rise through could take it to the next resistance level of 1.2062.
Meanwhile, investors await Canada’s existing home sales data, scheduled later today.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
