USD/CAD Open: 1.1146-1.1148 Canadian Dollar March 26, 2014
USD/CAD Open: 1.1146-1.1148 Overnight Range: 1.1176-1.1211
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $99.66 and gold is at $1,315. US futures are higher. Today, the US releases durable goods 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.
Growth currencies are performing a little bit better today as risk appetite is stronger. The loonie has rallied over the last two days as commodity currencies are performing better. With no major Canadian data releases, the loonie will follow general market flows and risk appetite. With no major catalyst in sight for the loonie, look for the loonie to be rangebound for the most part.
Today’s Suggested Range USD/CAD: 1.1100 – 1.1250
Rahim Madhavji | Knightsbridge Foreign Exchange
T: 416-274-9332 | T: 1-877-355-KBFX (5239) ext. 101 | Trading Floor: 416-479-0834 |
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By Admin | March 26, 2014 | Daily Update | 0 comments