USD CAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.35% against the CAD to close at 0.9735.
In Canada, housing starts, on a seasonally adjusted annualized rate, rose to 224,900 units in August, well above the 200,000 average forecast. However, the international merchandise trade deficit widened to C$2.3 billion in July, from C$1.9 billion in June.
In the Asian session, at GMT0300, the pair is trading at 0.9722, with the USD trading 0.13% lower from yesterday’s close.
The pair is expected to find support at 0.9701, and a fall through could take it to the next support level of 0.9681. The pair is expected to find its first resistance at 0.9755, and a rise through could take it to the next resistance level of 0.9789.
The currency pair is trading below 20 Hr and its 50 Hr moving average.
