USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.4% against the CAD and closed at 1.2821.
On the data front, Canada’s Teranet/National Bank house price index fell 0.5% on a monthly basis in November. In the prior month, the index had dropped 1.0%.
In the Asian session, at GMT0400, the pair is trading at 1.2813, with the USD trading 0.06% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2777, and a fall through could take it to the next support level of 1.2740. The pair is expected to find its first resistance at 1.2865, and a rise through could take it to the next resistance level of 1.2916.
Moving ahead, a speech by the Bank of Canada (BoC) Governor, Stephen Poloz, will be closely monitored by investors.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
