USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.23% against the CAD to close at 0.9970.
Canadian dollar fell after the Canada Mortgage and Housing Corporation (CMHC) indicated that, on a seasonally adjusted basis, housing starts in Canada declined to an annual rate of 197,900 units in January, compared to a rate of 199,900 units recorded in December.
In the Asian session, at GMT0400, the pair is trading at 0.9968, with the USD trading 0.03% lower from yesterday’s close.
The pair is expected to find support at 0.9938, and a fall through could take it to the next support level of 0.9909. The pair is expected to find its first resistance at 0.9994, and a rise through could take it to the next resistance level of 1.0020.
Trading trends in the pair today are expected to be determined by of New Housing Price Index in Canada, later today.
The currency pair is trading just above its 20 Hr and 50 Hr moving averages.
