USD/CAD Open: 1.1046-1.1047 March 17, 2014
USD/CAD Open: 1.1046-1.1047 Overnight Range: 1.1044-1.1110
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $98.18 and gold is at $1,380. US futures are higher. Today, the US releases manufacturing, industrial production, and capacity utilization data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0890 and 1.0610.
Risk aversion seems to be fading today and the Canadian dollar is higher along with other growth currencies. The referendum in Crimea went as expected with 97% expected to favor to join Russia. Look for data releases today to impact sentiment and flows. The Canadian dollar seems rangebound and comfortable for the most part looking for direction.
Today’s Suggested Range USD/CAD: 1.1000 – 1.1099
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | March 17, 2014 | Daily Update |
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