FXstreet.com (Barcelona) - The Canadian Dollar has gained about 70 pips after Canadian housing starts were released to have increased 13.7% in March; USD/CAD has dropped from levels around 1.2380 before housing data to levels right below 1.2330 shortly after housing figures were released.

On the downside, next support levels remain at 1.2290 and below hare 1.2225 intra-week low. Above 1.2330, next resistance level could be located at 1.2360 and, above here, intra-day high at 1.2460.