USD/CAD Open: 1.0340-1.0342 Overnight Range: 1.0300-1.0354
The Canadian dollar was volatile in overnight currency exchange markets. Oil is at $93.47 and gold is at $1,389. NY futures are lower. Today, US durable goods orders are released.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0350 and 1.0450. Support is at 1.0150, 1.0010, and 0.9950.
Durable goods order data released this morning was slightly better than expected. Asian markets remain volatile. The US is heading in to a long weekend and risk aversion remains the theme. The Canadian dollar is weaker along with other commodity currencies.
Today’s Suggested Range USD/CAD: 1.0275 – 1.0375
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