USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 1.43% against the CAD to close at 1.0232.
In Canada, the New Housing Price Index rose 0.2% (MoM) in October, while housing starts fell to an annual rate of 181,100 units in November.
In the Asian session, at GMT0400, the pair is trading at 1.0252, with the USD trading 0.19% higher from yesterday’s close.
The pair is expected to find support at 1.0118, and a fall through could take it to the next support level of 0.9985. The pair is expected to find its first resistance at 1.0319, and a rise through could take it to the next resistance level of 1.0386.
The pair is expected to trade on the cues from the release of international merchandise trade data in Canada.
The currency pair is trading well above its 20 Hr and 50 Hr moving averages.
