FXstreet.com (Barcelona) – The pair has rescinded its earlier gains and fallen below the key level of 1.0200 during European trading, operating between a range of 1.0164 (daily min) and 1.0213 (daily max) Tuesday.
After a relatively quiet morning on the data front – outside of the Chinese release – the next big event for the pair will be the Housing Starts (YoY) in Canada at 12:15 GMT. In other news concerning the Canadian dollar, the price of crude has settled presently at USD $85.53 or -0.54%.
In terms of the technical levels, the cross is operating in the region of 1.0166, falling at a rate of -0.24% below its opening level. According to the technical analysts at ICN.com, the pairs decline will be buffered by short-term support at 1.0125, 1.0100, and finally 1.0045. In the event of an upswing, the pair will engage resistance levels at 1.0240, 1,020, and ultimately 1.0310.
