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USD/CAD Open: 1.3137-1.3138 Overnight Range: 1.3100-1.3144
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $66.17 and gold is at $1,224. US markets are higher. There are no releases scheduled for today’s session.
The short-term USD/CAD technicals are neutral. For today, USD resistance is at 1.3140. Support is at 1.3107.
The Canadian dollar continues to trade slightly above recent one-month lows against the USD. Renewed trade tensions between the US and China hurt North American stocks once again and have contributed to risk-off trade. The USD made gains against the majority of G10 currencies. Energy prices have started the week sluggishly, as WTI is lower. There are no significant releases scheduled for today’s session.
Today’s Suggested Range USD/CAD: 1.3100 – 1.3200
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Rahim Madhavji | Knightsbridge Foreign Exchange | Toll-Free: 1-877-355-5239
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