FXS: USD/CAD stabilizes at 1.0184 after Canadian data release
FXstreet.com (Barcelona) - The U.S. dollar has stabilized against the loonie after the release of the index of Housing Starts in Canada. The once malignant threat of risk aversion earlier today morning has since faded, accentuating the upward pressure of the Canadian dollar.
In Canada, the index for Housing Starts (YoY) has exceeded expectations by posting a strong result of 222.7K in June, versus estimates of 200.0K and 217.4K in the previous month. In addition, oil prices have presently settled at around USD $85.90 or -0.10% at the moment, creating a window for the loonie to appreciate against the greenback.
The cross is navegating in the area of 1.0184, slightly descending -0.07% at this time. The technical analysts at Mataf.net have identified the next supports at 1.0182, followed by 1.0164, and finally 1.0144. On the upside, the pair’s advance will be stymied by resistance levels located at 1.0240 1.0220, and then 1.0258.
