USD/CAD back at square one

USD/CAD is back at square one, after seesawing between a high of 1.3189 and a low of 1.3144, unable to determine a lasting direction.

USD/CAD recovered from lows despite better-than-expected data from Canada, with housing starts up to 198.4K in July, versus 195.0K expected. At time of writing, USD/CAD is trading at 1.3165, virtually unchanged on the day.

USD/CAD technical levels

As for technical levels, next supports are seen at 1.3118 (10-day SMA), 1.3081 (20-day SMA) and 1.2995 (Aug 4 low). On the other hand, immediate resistances line up at 1.3199 (Aug 5 high), 1.3252 (Jul 27 high) and 1.3305 (200-day SMA).