The Canadian Dollar weakened versus the Dollar as Crude prices continued to decline and risk aversion still remained at high levels. Overall, USD/CAD traded with a low of 1.0310 and a high of 1.0393. USD/CAD is supported by the 100 daily moving averages and is right above the 50% Fibonacci retracement of the uptrend it started at the end of May. Today, Housing Starts are expected higher with 203K versus 201K.

USD/CAD - Last: 1.0320

Resistance

1.0400

1.0470

1.0570

Support

1.0300

1.0225

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