USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.22% against the CAD to close at 1.0907.
On the economic front, annual housing starts in Canada rose more-than-expected 0.8% to a seasonally adjusted seven-month high level of 198,324 in May.
In the Asian session, at GMT0300, the pair is trading at 1.0901, with the USD trading 0.06% lower from yesterday’s close.
The pair is expected to find support at 1.0886, and a fall through could take it to the next support level of 1.0872. The pair is expected to find its first resistance at 1.0927, and a rise through could take it to the next resistance level of 1.0954.
With no major economic releases from Canada, later today, traders would keep a tab on global economic news for further cues in the loonie.
The currency pair is trading below its 20 Hr and 50 Hr moving averages.
