USDCAD Movement
For the 24 hours to 23:00 GMT, USD rose 0.39% against the CAD to close at 0.9912.
Data released in the US showed that the new building permits climbed higher-than-expected 5.1% to an annual rate of 717,000 in February, the most since October 2008, while housing starts slipped 1.1% in February.
In the Asian session, at GMT0400, the pair is trading at 0.9901, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 0.9862, and a fall through could take it to the next support level of 0.9823. The pair is expected to find its first resistance at 0.9955, and a rise through could take it to the next resistance level of 1.0008.
Trading trends in the pair today are expected to be determined by the release of leading indicators in Canada.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
