USDCAD Analysis: Lower than expected Canada housing starts bullish for USDCAD

November 8, 2019

By IFCMarkets

Lower than expected Canada housing starts bullish for USDCAD

Housing starts declined in Canada in October. Will the USDCAD rise?

USDCAD rising above MA(200)

The price chart on 1-hour timeframe shows USDCAD: H1 is in uptrend. The price is rising above the 200-period moving average MA(200) which is rising. The RSI oscillator is above 50 level but has not reached the overbought zone.


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Technical Analysis Summary

Order Buy
Buy stop Above 1.3204
Stop loss Below 1.3184

Market Analysis provided by IFCMarkets