Forex Pros – The U.S. dollar was up against its Canadian counterpart on Tuesday, rising to a fresh daily high as risk aversion increased following the release of worse-than-expected U.S. housing data.

USD/CAD hit 1.0266 during European afternoon trade, a fresh daily high; the pair subsequently consolidated at 1.0246, advancing 0.47%.

The pair was likely to find support at 1.0153, Monday’s low and resistance at 1.0301, the high of October 22.

Earlier in the day, U.S. data showed that the S&P/Case-Shiller home price index rose less-than-expected in August, gaining 1.7% after rising by 3.2% in July. Analysts expected the house price index to rise by 2.0% in August.

Commenting on the report, David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s said, “Home prices broadly declined in August, indicating that the housing market continues to bounce along the recent lows”.

Meanwhile, the loonie was up against the euro, with EUR/CAD shedding 0.11% to hit 1.4225.

Later in the day, the U.S. was to release industry data on consumer confidence as well as official data on manufacturing.

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