Loonie holds gains to the 1.35 area. Economists at Scotiabank analyze the USD/CAD outlook. Short-term technical trends are leaning positive for the CA
Short-term technical trends are leaning positive for the CAD. The USD has been trading more defensively since peaking and turning lower from the 1.37 zone and the bear trend is developing some decent momentum on the short-term chart. Noted support at 1.3495/1.3500 is, however, hampering additional CAD gains.
A break under the 1.3495 point should see the CAD progress to the low 1.34 area and, possibly, test stronger USD support in the upper 1.33s.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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