FX Morning Update September 24, 2013 Overnight Range: 1.0279-1.0303
USD/CAD Open: 1.0301-1.0303 Overnight Range: 1.0279-1.0303
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $102.80 and gold is at $1,317. NY futures are mixed today. Today, the US releases home price and consumer confidence data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0360, 1.0580 and 1.0850. Support is at 1.0150, and 1.0010.
The USD/CAD continues to consolidate as it waits for data and comments on tapering timing. More FED speakers will provide some commentary today that could move markets. For the most part, look for the Canadian dollar to remain rangebound until data releases provide some direction.
Today’s Suggested Range USD/CAD: 1.0250 – 1.0350
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | September 24, 2013 | Daily Update |
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