USDCAD Movement
For the 24 hours to 23:00 GMT, the USD rose 0.69% against the CAD and closed at 1.3101.
The seasonally adjusted housing starts in Canada dropped more than expected to 193.00 K in July and notched its first decline in three months, compared to a downwardly revised level of 203.10 K in June.
In the Asian session, at GMT0300, the pair is trading at 1.3130, with the USD trading 0.22% higher from yesterday’s close.
The pair is expected to find support at 1.3031, and a fall through could take it to the next support level of 1.2932. The pair is expected to find its first resistance at 1.3194, and a rise through could take it to the next resistance level of 1.3257.
The currency pair is trading above its 20 Hr and 50 Hr moving averages.
