Canadian Dollar Morning Update April 28, 2014
USD/CAD Open: 1.1025-1.1027 Overnight Range: 1.1019-1.1041
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $101.13 and gold is at $1,303. US futures are higher. Today, the US releases home sales data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0890 and 1.0610.
Recently the USD/CAD has been quiet, trading rangebound looking for direction with limited volatility. The situation in Ukraine continues to linger but seems under control with no major events over the weekend. Look for commodities and risk appetite to help move the Canadian dollar directionally.
Today’s Suggested Range USD/CAD: 1.0975 – 1.1075
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | April 28, 2014 | Daily Update |
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