Canadian Dollar Morning Update May 26, 2014
USD/CAD Open: 1.0861-1.0863 Overnight Range: 1.0859-1.0875
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $104.16 and gold is at $1,293. US futures are closed. There are no major data releases today as US markets are closed today.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0800 and 1.0610.
The US and UK markets are closed today for a holiday, which could make liquidity tight. Ukraine elections are over and this could bring some calm to the region. The Canadian dollar is trading in a narrow range and seems quite comfortable where it is at the moment. Look for a largely quiet day today in USD/CAD.
Today’s Suggested Range USD/CAD: 1.0840 – 1.0940
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | May 26, 2014 | Daily Update |
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