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8 Dec 2014
Canadian dollar struggles to gain on upbeat housing data
FXStreet (Mumbai) - The Canadian dollar remained largely unchanged after an upbeat Canadian Housing Starts data for November hit the wires.
The USD/CAD trades largely unchanged for the day at 1.1440. The pair has hardly moved as the better-than-expected Canadian Housing Starts are being overshadowed by crude prices, trading near five-year lows. The Housing starts in November came-in at 195.6K, compared to the upwardly revised October’s print of 183.7K. Economists were expecting a print of 195.0K.
USD/CAD Technical Levels
The pair has an immediate support located at 1.1432, under which losses could be extended to 1.1402 (5DMA). Meanwhile, resistance is seen at 1.1446 and 1.1477 levels.
The USD/CAD trades largely unchanged for the day at 1.1440. The pair has hardly moved as the better-than-expected Canadian Housing Starts are being overshadowed by crude prices, trading near five-year lows. The Housing starts in November came-in at 195.6K, compared to the upwardly revised October’s print of 183.7K. Economists were expecting a print of 195.0K.
USD/CAD Technical Levels
The pair has an immediate support located at 1.1432, under which losses could be extended to 1.1402 (5DMA). Meanwhile, resistance is seen at 1.1446 and 1.1477 levels.