#USDCAD @ 1.36885 : Technical risks tilted slightly 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 holds range. Economists at Scotiabank note that the technical picture shows that the risks are tilted slightly to the downside.
“USD/CAD has settled into a flat range trade over the past couple of weeks but the narrowing parameters of the range are producing a triangular type pattern on the intraday chart that augurs for a break out (one way or the other) and – perhaps – a period of more dynamic movement shortly.”
“Resistance is 1.3780, support is 1.3685.”
“Broader patterns – the early March peak/reversal above 1.38 and the USD’s longer run overbought condition – tilt technical risks (slightly) to the downside.”
[/s2If]
Join Our Telegram Group
