For the 24 hours to 23:00 GMT, the USD declined 0.5% against the CAD and closed at 1.2455.
In the Asian session, at GMT0300, the pair is trading at 1.2454, with the USD trading marginally lower against the CAD from yesterday’s close.
The pair is expected to find support at 1.2421, and a fall through could take it to the next support level of 1.2388. The pair is expected to find its first resistance at 1.2509, and a rise through could take it to the next resistance level of 1.2564.
Ahead in the day, market participants will focus on Canada’s new housing price index for August.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
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