USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.09% against the CAD and closed at 1.3917.
On the economic front, Canada’s new housing price index advanced 0.1% MoM in December, lower than market expectations for an advance of 0.2% and following a similar gain recorded in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.3899, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1.3853, and a fall through could take it to the next support level of 1.3808. The pair is expected to find its first resistance at 1.3980, and a rise through could take it to the next resistance level of 1.4061.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
