#USDCAD @ 1.33878 : Near-term risks are tilted to the downside – 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 is consolidating between 1.3350/1.3450. Economists at Scotiabank expect to see a decline in the pair, but it will be slow to materialize.
“The USD undertone remains soft and bear trend momentum continues to develop; but short-term DMI signals are weak, suggesting only moderate downside pressure on spot at present. It should also mean limited upside potential for the USD intraday, however.”
“Look for better selling pressure on minor gains to the low 1.34s.”
“A break of 1.3350 targets 1.3270/75.”
[/s2If]
Join Our Telegram Group
