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16 May 2014
USD/CAD remains capped by 1.0900
FXStreet (Córdoba) - The USD/CAD remained little changed near daily highs after the latest string of US data showed housing starts rose more than expected in April.
On the macroeconomic domain, data showed foreign investment in Canadian securities unexpectedly dropped in March, while US housing starts grew 13.2% in April to 1072 K vs. 980K expected. However, the USD/CAD was barely affected, and trades nearly flat at the 1.0880 zone. However, the USD/CAD is on track to post its third weekly loss in a row.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0890 (May 15 high), 1.0925 (May 13 high) and 1.0950 (21-day SMA). On the other hand, supports are seen at 1.0850 (May 16 low), 1.0813 (May 13 low) and 1.0800 (psychological level).
On the macroeconomic domain, data showed foreign investment in Canadian securities unexpectedly dropped in March, while US housing starts grew 13.2% in April to 1072 K vs. 980K expected. However, the USD/CAD was barely affected, and trades nearly flat at the 1.0880 zone. However, the USD/CAD is on track to post its third weekly loss in a row.
USD/CAD technical levels
In terms of technical levels, the USD/CAD could find immediate resistances at 1.0890 (May 15 high), 1.0925 (May 13 high) and 1.0950 (21-day SMA). On the other hand, supports are seen at 1.0850 (May 16 low), 1.0813 (May 13 low) and 1.0800 (psychological level).