USD/CAD continues to pull back from 1.3200

USD/CAD edged a tad lower at the beginning of the North American session, despite disappointing Canadian housing data, as the greenback continues to underperform against commodity currencies.

USD/CAD continued to back away from the 1.32 zone and scored a daily low of 1.3140 in recent dealings. At time of writing, USD/CAD is trading at 1.3150, down 0.19% on Monday.

Data showed Canadian building permits fell 5.5% to 6.41 billion Canadian dollars in June, Statistics Canada said Monday. Expectations were for a 2.1% increase.

USD/CAD technical levels

As for technical levels, next supports are seen at 1.3120 (10-day SMA), 1.3075 (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).