The Canadian Dollar gained versus the Dollar for the first time in 3 days after NFP's effect waned slightly and investors focused on stronger employment and growth in Canada. The Canadian Dollar is now linked to commodities and also considered as a haven due to its strong economy. Overall, USD/CAD traded with a low of 1.0515 and a high of 1.0679. USD/CAD declined yesterday but was still unable to remain at its lows showing buyers are still in control. Today, Housing Starts are expected slightly higher with 203K versus 201K prior.

USD/CAD - Last: 1.0585

Resistance

1.0620

1.0680

1.0720

Support

1.0515

1.0460

1.0395

CADUSD.PNG