USD/CAD Open: 1.0811-1.0813 Overnight Range: 1.0800-1.0819
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $101.82 and gold is at $1,307. US futures are higher. Today, the US releases home sales data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.0850 and 1.0990. Support is at 1.0620 and 1.0510.
The US dollar has maintained its recent gains over the weekend. USD/CAD was quiet overnight. This week in the US brings a Fed update and jobs data, which could create some volatility, along with GDP data in Canada. Look for the Canadian dollar to be rangebound until the big data releases this week, which could provide a catalyst.
Today’s Suggested Range USD/CAD: 1.0700 – 1.0800
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