Loonieviews August 20, 2013

USDCAD Open 1.0360-65 Overnight Range 1.0342-1.0368

See Original post on Saxo Bank’s Trading Floor

USDCAD moved higher overnight, undermined in part by a softer AUDUSD and NZDUSD profile on central bank outlooks which were already wobbly on falling equities due to tapering fears. Global equity indices were also down but NY equity index futures are in the green,

The short term USDCAD technicals are bullish while trading above 1.0315 but is currently bumping into resistance in the 1.0380 area. A break here will see a retest of 1.0440.

Todays Range 1.0340-1.0410

Categories FX, Foreign Exchange, Currency, Canadian Dollar

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