USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.25% against the CAD to close at 1.3292.
In economic news, Canada’s new housing price index rose less-than-expected by 0.1% MoM in September, following a 0.3% rise in the previous month. Investors had expected it to increase 0.2%.
In the Asian session, at GMT0400, the pair is trading at 1.3287, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.3234, and a fall through could take it to the next support level of 1.3181. The pair is expected to find its first resistance at 1.3342, and a rise through could take it to the next resistance level of 1.3396.
Moving ahead, market participants will look forward to Canada’s housing starts data, consumer price inflation data and the BoC review, scheduled to be released next week.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
