USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.22% against the CAD to close at 1.0030.
On a seasonally adjusted annual basis, housing starts in Canada dropped to a level of 174.9K units in April, from a downwardly revised level of 181.K units recorded in March.
In the Asian session, at GMT0300, the pair is trading at 1.0022, with the USD trading marginally lower from yesterday’s close.
The pair is expected to find support at 1.0006, and a fall through could take it to the next support level of 0.9990. The pair is expected to find its first resistance at 1.0049, and a rise through could take it to the next resistance level of 1.0076.
Trading trends in the pair today are expected to be determined by the new house prices data from Canada.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
