USD/CAD Open: 1.0906-1.0908 Overnight Range: 1.0890-1.0919
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $104.69 and gold is at $1,261. US futures are lower. Today, there are no major data releases.
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.
Volatility is low. Oil prices are stronger. Yesterday’s housing start data is positive for Canadian growth. The Canadian dollar remains rangebound. With no major data releases today, look for the Canadian dollar to follow risk sentiment for the most part with no large swings.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
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