USD/CAD Open: 1.0448-1.0450 Overnight Range: 1.0436-1.0460
The Canadian dollar was rangebound in overnight currency exchange markets. Oil is at $94.01 and gold is at $1,318. NY futures are higher today. There are no major data releases today.
The short term Canadian dollar technicals are bearish. For today, USD resistance is at 1.0460, 1.0580 and 1.0850. Support is at 1.0150, and 1.0010.
The USD/CAD has settled down and remains rangebound for the most part. With no major data releases today, the Canadian dollar could follow risk sentiment broadly. The focus on economic data, FED tapering timing, and interest rates remain the key themes to focus on driving movement in the Canadian dollar.
Today’s Suggested Range USD/CAD: 1.0400 – 1.0500
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