Canadian Dollar Currency Exchange FX Morning Update October 28, 2014
USD/CAD Open: 1.1204-1.1206 Overnight Range: 1.1201-1.1259
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $81.11 and gold is at $1,234. US futures are positive. Today, the US releases durable goods data.
The short term Canadian dollar technicals are negative. For today, USD resistance is at 1.1395. Support is at 1.0925.
The Canadian dollar is slightly higher overnight as commodity currencies are stronger. Domestic data should help drive the Canadian and US dollar directionally. All eyes are on the FED tomorrow. The Canadian dollar should be rangebound without any major data releases today.
Today’s Suggested Range USD/CAD: 1.1175 – 1.1275
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | October 28, 2014 | Daily Update |
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