USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.64% against the CAD to close at 1.3352.
On the economic front, existing home sales in Canada advanced 0.8% MoM in February, following a rise of 0.5% in the previous month.
In the Asian session, at GMT0400, the pair is trading at 1.3357, with the USD trading marginally higher from yesterday’s close.
The pair is expected to find support at 1.3296, and a fall through could take it to the next support level of 1.3236. The pair is expected to find its first resistance at 1.3411, and a rise through could take it to the next resistance level of 1.3465.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
