USD/CAD Open: 1.0254-1.0256 Overnight Range: 1.0245-1.0268
The Canadian dollar was rangebound in overnight trading. Oil is at $88.64 and gold is at $1,428. NY futures are higher. Today, the US releases existing home sales.
The short term Canadian dollar technicals are mixed. For today, USD resistance is at 1.0265, 1.0350 and 1.0450. Support is at 1.0150, 1.0050, and 1.0010.
Markets are higher after G20 meetings over the weekend. The G20 seems fine with Japan trying to battle deflation and stimulate their economy. USD/CAD remains rangebound and is looking for direction.
Today’s Suggested Range USD/CAD: 1.0200 – 1.0300
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