USD/CAD Open: 1.3254-1.3255 Overnight Range: 1.3232-1.3329
The short-term USD/CAD technicals are neutral-bearish. For today, USD resistance is at 1.3383. Support is at 1.3140.
The Canadian dollar has retraced some recent weakness against the USD following this morning’s employment report. January’s employment data greatly exceeded expectations, as Canada added 66.8k jobs against expectations of a 5k increase. Today’s jobs data is a sign of strength in an economy facing several other headwinds. There are no additional releases scheduled for today’s session.
Today’s Suggested Range USD/CAD: 1.3200 – 1.3300
Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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