USD/CAD Open: 1.1202-1.1204 Canadian Dollar March 25, 2014
USD/CAD Open: 1.1202-1.1204 Overnight Range: 1.1176-1.1211
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $100.02 and gold is at $1,310. US futures are higher. Today, the US releases home price and consumer confidence data.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0890 and 1.0610.
The USD/CAD seems rangebound for the most part and is quiet. With no major data releases today, look for the Canadian dollar to follow flows and take cues from the US dollar. The lack of near term catalyst for the Canadian dollar makes it vulnerable.
Today’s Suggested Range USD/CAD: 1.1150 – 1.1299
Rahim Madhavji | Knightsbridge Foreign Exchange
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By Admin | March 25, 2014 | Daily Update |
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