Canadian Dollar USD/CAD FX Morning Update July 26, 2013
USD/CAD Open: 1.0273-1.0275 Overnight Range: 1.0262-1.0289
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $104.87 and gold is at $1,326. NY futures are negative today. Today, the US releases consumer sentiment data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0420, 1.0580 and 1.0850. Support is at 1.0250, 1.0150, and 1.0010.
Overseas Japanese markets are down and negative sentiment has spilled over to US markets. The Canadian dollar continues to grind slowly higher vs. the US dollar and continues to be impacted by domestic data releases and expect this to continue.
Today’s Suggested Range USD/CAD: 1.0225 – 1.0325
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | July 26, 2013 | Daily Update |
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