#USDCAD @ 1.38269 : 1.38/1.39 range set to cap – 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)]
USD/CAD steadies in upper 1.38s. Economists at Scotiabank expect the pair to struggle to surpass the 1.38/39 area.
“The good news for the CAD is the short-term spreads may not widen that much more from here – especially if jobs and wage data today remain upbeat – but if equity market headwinds persist, the CAD will have little opportunity to rebound.”
“Price action is hardly indicative of a peak or even a reversal developing. But while trend momentum signals are aligned bullishly for the USD across a range of timeframes, the USD rally is looking very extended across the intraday and daily studies especially. That may help limit USD gains to the 1.38/1.39 range that capped the USD late last year.”
“USD support is 1.3750.”
[/s2If]
Join Our Telegram Group
