#USDCAD @ 1.37846 may have a shot at pushing back towards 1.37 – 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)]
CAD slips from highs versus soft USD. Economists at Scotiabank expect the USD/CAD pair to challenge 1.37 if it manages to stay below the 1.38 level.
“Price action Friday strongly suggested that the broader USD uptrend in place over the past month or so may be stalling. But the intraday rebound in the USD from session lows – so far – looks quite constructive on the short-term charts and underlying trend momentum remains USD-bullish.”
“If USD/CAD gains are capped around 1.38 intraday, the CAD may have a shot at pushing back towards 1.37.”
“Persistent USD strength above the figure will likely prompt a retest of 1.3850/60.”
[/s2If]
Join Our Telegram Group
