Canadian Dollar (CAD), Daily Review, Feb 9 2010

By IBTimes Staff Reporter | February 09 2010 5:34 AM

The Canadian Dollar weakened versus the American Dollar as drops in equity markets lowered demand for higher yielding assets. Housing Starts came out stronger with 186K versus 180K expected. Overall, USD/CAD traded with a low of 1.0657 and a high of 1.0771. USD/CAD has continued higher toward the 200 Daily Moving Average but has major resistance near 1.08. No economic data expected today.

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USD/CAD - Last: 1.0760

Resistance

1.0780

1.0850

1.0872

Support

1.0690

1.0655

1.0605

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