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USD/CAD remains capped below 1.1200

FXStreet (Córdoba) - USD/CAD is going through a choppy phase although within its recent range after pulling back sharply from a 6-month peak scored Friday.

The corrective phase found support at the 1.1110 area yesterday New York session, giving way to a sideways one, with USD/CAD wavering in a 60-pip range throughout the day, unable to set direction. The pair hit a high of 1.1190 in the wake of Canadian building permits sharp drop, but pulled back slightly afterwards. At time of writing, USD/CAD is trading at the 1.1180 zone, 0.45% above its opening price.

USD/CAD levels to watch

As for technical levels, USD/CAD could find immediate resistances at 1.1186 (intraday high), 1.1200 (psychological level) and 1.1222 (Oct 1 high). On the other hand, supports are seen at 1.1126 (intraday low), 1.1110 (Oct 6 low) and 1.1082 (20-day SMA).

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