USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.11% against the CAD to close at 1.0199. The Loonie remained buoyant yesterday as Canadian housing starts rose to a level of 200.2K in May, fastest pace in more than a year, and compared to a revised level of 175.9K registered in the previous month.
In the Asian session, at GMT0300, the pair is trading at 1.0188, with the USD trading 0.11% lower from yesterday’s close.
The pair is expected to find support at 1.0164, and a fall through could take it to the next support level of 1.0141. The pair is expected to find its first resistance at 1.0214, and a rise through could take it to the next resistance level of 1.0241.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
