Canadian Dollar FX Morning Update May 27, 2013
USD/CAD Open: 1.0323-1.0325 Overnight Range: 1.0307-1.0331
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $93.60 and gold is at $1,394. NY markets are closed today. Today, there are no major data releases.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0350 and 1.0450. Support is at 1.0150, 1.0010, and 0.9950.
US markets are closed today due to a holiday and headlines will be limited as a result. Speculators have built long positions in the US Dollar and short positions in the Canadian dollar along with other commodity currencies. Look for currency markets to be quiet today with the holiday.
Today’s Suggested Range USD/CAD: 1.0275 – 1.0375
Rahim Madhavji | Knightsbridge Foreign Exchange
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Knightsbridge Foreign Exchange has based the opinions expressed herein on information generally available to the public. Knightsbridge Foreign Exchange makes no warranty concerning the accuracy of this information and specifically disclaims any liability for trading decisions based on the opinions expressed and information contained herein. Such information and opinions are for general information only and are not intended to present advice with respect to matters reviewed and commented upon.
By Admin | May 27, 2013 | Daily Update |
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