Canadian Dollar News USD/CAD FX Morning Update November 18, 2013
USD/CAD Open: 1.0424-1.0426 Overnight Range: 1.0417-1.0443
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $93.42 and gold is at $1,278. NY futures are higher today. There are no major data releases today.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0580 and 1.0850. Support is at 1.0270, 1.0150, and 1.0010.
Markets are close to new all-time highs and the Canadian dollar has rallied a bit on overall risk-on optimism. Reform plans in China have been received positively globally. Tapering timing remains the major risk for the Canadian dollar.
Today’s Suggested Range USD/CAD: 1.0400 – 1.0500
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | November 18, 2013 | Daily Update |
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