USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.22% against the CAD and closed at 1.2803.
On the macro front, Canada’s Teranet/National Bank house price index advanced 0.2% on a monthly basis in April, after recording a flat reading in the prior month.
In the Asian session, at GMT0300, the pair is trading at 1.2796, with the USD trading 0.05% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2760, and a fall through could take it to the next support level of 1.2725. The pair is expected to find its first resistance at 1.2822, and a rise through could take it to the next resistance level of 1.2849.
Moving ahead, traders would direct their attention to Canada’s existing home sales data April, set to release later in the day.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
