USD/CAD Open: 1.1007-1.1009 Overnight Range: 1.0928-1.1011
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $92.57 and gold is at $1,215. US futures are lower. Today, the US releases home sales data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1100. Support is at 1.0850.
The US dollar is higher overnight. Commodity currencies are weaker. The US FED continues to stimulate the US economy while global growth concerns are a cause for concern for Canadian dollar bulls. USD/CAD continues to be rangebound near the 1.10 USD/CAD level.
Today’s Suggested Range USD/CAD: 1.0950 – 1.01050
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