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- CAD/MXN to drop towards 15.60 on a weekly close under major support at 15.89 – Scotiabank
CAD/MXN to drop towards 15.60 on a weekly close under major support at 15.89 – Scotiabank
CAD/MXN tests major weekly support at 15.89. A weekly close below here would open up additional losses to the 15.60 area, economists at Scotiabank report.
CAD/MXN to recover some ground on a weekly close above 15.89
“A weekly close below 15.89 should be enough to maintain pressure on the CAD in the near-term and drive the cross back to the 15.60 area – lows from the middle of last year.”
“If 15.89 holds through the close of the week, the CAD/MXN may be able to recover some ground but a move back above 16.20/25 is needed to confer any sort of near-term technical strength on this market.”
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