USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CAD and closed at 1.3542.
In the Asian session, at GMT0400, the pair is trading at 1.3534, with the USD trading 0.06% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3504, and a fall through could take it to the next support level of 1.3474. The pair is expected to find its first resistance at 1.3576, and a rise through could take it to the next resistance level of 1.3618.
Looking ahead, Canada’s existing home sales for October, scheduled to be released later in the day, would garner a lot of market attention.
The currency pair is trading below its 20 Hr moving average and showing convergence with its 50 Hr moving average.
