#USDCAD @ 1.36204 : Scope for losses looks limited – Scotiabank
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The CAD had another poor week. Economists at Scotiabank expect the Loonie to continue struggling to gain ground.
“Technical pointers suggest the USD will remain well-supported and that minor dips remain a buy from a chart perspective.”
“Bull trend dynamics are evident across the short, medium and longer-term charts.”
“Support is 1.3535/55 (I would expect that to hold early this week, at least).”
“Resistance is 1.3665, ahead of 1.3700/10 and 1.3830.”
See: USD/CAD: New year-end target revised higher to 1.32 – NFB
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