USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.56% against the CAD and closed at 1.3111.
On the data front, Canada’s seasonally adjusted housing starts advanced more-than-expected to 218.3K on an annual basis in June, after recording a revised level of 186.7K in the prior month and compared to market expectations of a rise to a level of 189.0K.
In the Asian session, at GMT0300, the pair is trading at 1.3091, with the USD trading 0.15% lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.3033, and a fall through could take it to the next support level of 1.2976. The pair is expected to find its first resistance at 1.3143, and a rise through could take it to the next resistance level of 1.3196.
With no economic releases in Canada today, investor sentiment would be governed by global macroeconomic news.
The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.
