USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.1% against the CAD and closed at 1.4356.
In economic news, Canada’s new housing price index rose by 0.2% MoM in November, in line with market expectation, following a gain of 0.3% in the preceding month.
In the Asian session, at GMT0400, the pair is trading at 1.4391, with the USD trading 0.25% higher from yesterday’s close.
The pair is expected to find support at 1.4351, and a fall through could take it to the next support level of 1.4310. The pair is expected to find its first resistance at 1.4415, and a rise through could take it to the next resistance level of 1.4439.
Going ahead, investors will keep a close watch on Canada’s existing homes sales data for December, slated to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
