USDCAD Movement
For the 24 hours to 23:00 GMT, USD declined 0.15% against the CAD to close at 0.9948.
Positive sentiment stemming from hopes that Greek political leaders would come to an agreement on the bailout terms and avoid a default, has lifted Canadian dollar against the US Dollar.
Additionally, Canadian dollar received support after building permits in Canada unexpectedly climbed 11.1% (MoM) to C$6.8 billion in December, marking the highest level since June 2007.
In the Asian session, at GMT0400, the pair is trading at 0.9957, with the USD trading 0.09% higher from yesterday’s close.
The pair is expected to find support at 0.9933, and a fall through could take it to the next support level of 0.9910. The pair is expected to find its first resistance at 0.9988, and a rise through could take it to the next resistance level of 1.0018.
Investors are awaiting housing starts data in Canada, later today.
The currency pair is converging with its 20 Hr and 50 Hr moving averages.
