USD/CAD Open: 1.1058-1.1060 March 18, 2014

USD/CAD Open: 1.1058-1.1060 Overnight Range: 1.1020-1.1071

The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $98.34 and gold is at $1,352. US futures are higher. Today, the US releases housing start and consumer price 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.

Russia has taken another step towards annexing Crimea, ignoring sanctions from the West. German investor confidence data reported overnight was worse than expected and is creating some risk aversion. Poloz delivers a speech today. The Canadian dollar remains rangebound for the most part between 1.09 and 1.12, 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 18, 2014 | Daily Update | 0 comments
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