#USDCAD @ 1.35458 to enjoy further gains towards 1.3650 – Scotiabank
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
The loonie holds up relatively well against the stronger US dollar. However, economists at Scotiabank believe that the USD/CAD is set to test the 1.3650 resistance.
“The CAD is finding a little support around the 1.3550 zone intraday but this all feels a bit arbitrary, with the USD operating with an extreme momentum tailwind.”
“Minor USD dips are likely to find support in the upper 1.34s/low 1.35s.”
“Risk remains to 1.3650 on the charts (Fib retracement resistance) but the chances of additional USD gains deeper into overshoot territory are high at this point.”
[/s2If]
Join Our Telegram Group
