USD/CAD Open: 1.1015-1.1017 Overnight Range: 1.1001-1.1031
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $104.26 and gold is at $1,292. US futures are positive. There are no major data releases today.
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 continues to be rangebound near the 1.10 level with reduced volatility. Corporate earnings continue to be released. With a neutral Bank of Canada last week, despite recent positive data releases in Canada, expect the Canadian dollar to follow risk sentiment directionally and be rangebound for a while.
Today’s Suggested Range USD/CAD: 1.0975 – 1.1075
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