USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.45% against the CAD and closed at 1.3468.
On the data front, Canada’s new housing price index rose by 0.2% MoM in September, meeting market expectations and following a similar gain in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.3475, with the USD trading slightly higher from yesterday’s close.
The pair is expected to find support at 1.3400, and a fall through could take it to the next support level of 1.3324. The pair is expected to find its first resistance at 1.3532, and a rise through could take it to the next resistance level of 1.3588.
Investors would keep a close watch on a speech by Bank of Canada (BoC) Governor, Stephen Poloz, due later in the day.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
