For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CAD and closed at 1.3325.

Data showed that Canada’s new housing price index rose 0.1% on a yearly basis in April, meeting market consensus. In the preceding month, the index had recorded a similar rise.

In the Asian session, at GMT0300, the pair is trading at 1.3341, with the USD trading 0.12% higher against the CAD from yesterday’s close.

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The pair is expected to find support at 1.3313, and a fall through could take it to the next support level of 1.3284. The pair is expected to find its first resistance at 1.3357, and a rise through could take it to the next resistance level of 1.3372.

Moving ahead, investors would closely monitor Canada’s manufacturing shipments, existing home sales and consumer price index, slated to release next week.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.


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