USDCAD Movement
For the 24 hours to 23:00 GMT, the USD declined 0.41% against the CAD and closed at 1.3202.
On the data front, Canada’s seasonally adjusted housing starts advanced to a level of 220.6K YoY in September, compared to a revised reading of 182.4K in the prior month and surpassing market anticipations to rise to a level of 190.0K.
In the Asian session, at GMT0300, the pair is trading at 1.3209, with the USD trading slightly higher from yesterday’s close.
The pair is expected to find support at 1.3176, and a fall through could take it to the next support level of 1.3143. The pair is expected to find its first resistance at 1.3242, and a rise through could take it to the next resistance level of 1.3275.
Amid no economic releases in Canada today, investor sentiment would be governed by global macroeconomic factors.
The currency pair is trading between its 20 Hr and 50 Hr moving averages.
