USD CAD appears to be steady
11/23/2016 10:28:53 AM
Dollar is trading in a very slim range on Wednesday, taking USD/CAD to the 1.3430 band ahead of the opening bell in Euro land.
The pair is now looking to steady in the middle of the weekly range around 1.3430, coming up after yesterday’s brief test of lows near 1.3380.
While the dollar stays sidelined around 101.00 the figure when tracked by the USD Index, the softer tone in crude oil prices looks to be controlling the downside slightly.
As of writing the pair is withdrawing 0.11% at 1.3425 and a break below 1.3375 would open the door to 1.3310 and finally 1.3260. On the other hand, the immediate hurdle aligns at 1.3567 followed by 1.3573 and ultimately 1.3580.
Written by FxErvin