The Canadian dollar dropped as stocks fell and crude oil prices fluctuated, discouraging demand for currencies related to economic growth. If the pair USD/CAD sustains the 1.6020 resistance level, downtrend acceleration could be seen to the 1.0480 area. Overall, USD/CAD traded with a low of 1.0544 and a high of 1.0635. Today, Building Permits are expected at -3.3% vs. -4.6% previously and the Ivey PMI is expected at 52 vs. 48.4 prior.

USD/CAD - Last: 1.0605

Resistance

1.0640

1.0685

1.0720

Support

1.0580

1.0545

1.0525

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