USD/CAD Open: 1.0905-1.0907 Overnight Range: 1.0901-1.0961
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $99.51 and gold is at $1,307. US futures are lower. Today, the US and Canada release trade data.
The short term Canadian dollar technicals are neutral. For today, USD resistance is at 1.1180 and 1.1260. Support is at 1.0890 and 1.0610.
The Canadian dollar is higher this morning as the US dollar is generally weaker. Canada’s trade surplus data this morning was smaller than before. The USD/CAD has been in a tight range around the 1.10 level but the Canadian dollar is looking to break out of this range this morning. All eyes are on the Canadian jobs data to be released this week.
Today’s Suggested Range USD/CAD: 1.0850 – 1.0950
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