USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.49% against the CAD to close at 1.3636.
In economic news, Canada’s new housing price index rose more-than-anticipated by 0.3% MoM in October, against investor expectations for it to remain stable at 0.1%.
In the Asian session, at GMT0400, the pair is trading at 1.3651, with the USD trading 0.11% higher from yesterday’s close.
The pair is expected to find support at 1.3568, and a fall through could take it to the next support level of 1.3485. The pair is expected to find its first resistance at 1.3697, and a rise through could take it to the next resistance level of 1.3744.
With no economic releases in Canada today, investors will look forward to the nation’s existing home sales and consumer price inflation data, both for the month of November, scheduled to be released next week.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
