USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.31% against the CAD to close at 1.0229.
The Loonie came under pressure after oil prices, its biggest export, fell more than 1%, yesterday.
In Canada, on a seasonally adjusted basis, annualized rate of housing starts surged to 222,700 units in June, compared with an upwardly revised rate of 217,400 units in May.
In the Asian session, at GMT0300, the pair is trading at 1.0216, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 1.0178, and a fall through could take it to the next support level of 1.0139. The pair is expected to find its first resistance at 1.0243, and a rise through could take it to the next resistance level of 1.0269.
Trading trends in the pair today are expected to be determined by the release of international merchandise trade data in Canada.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
