Forex: USD/CAD keeps the mood after Canadian data
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USD/CAD
FXstreet.com (Barcelona) - The Loonie continues to trade around 0.9872 against the greenback on Wednesday, after Housing Starts in Canada fell to 198K during December from 201.4K in the previous month.
Improved risk-off tone in the markets has pushed the cross to tops above 0.9880 during the European morning, retracing some pips at the moment.
The cross is now advancing 0.07% at 0.9873
Next resistance levels line up at 0.9893 (MA21d) followed by 0.9899 (MA10d) and finally 0.9943 (high Jan.2).
On the flip side, a breakdown of 0.9836 (low Jan.2) would expose 0.9832 (low Dec.18) and then 0.9825 (low Dec.13).
Improved risk-off tone in the markets has pushed the cross to tops above 0.9880 during the European morning, retracing some pips at the moment.
The cross is now advancing 0.07% at 0.9873
Next resistance levels line up at 0.9893 (MA21d) followed by 0.9899 (MA10d) and finally 0.9943 (high Jan.2).
On the flip side, a breakdown of 0.9836 (low Jan.2) would expose 0.9832 (low Dec.18) and then 0.9825 (low Dec.13).
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