- Analytics
- News and Tools
- Market News
- USD/CAD set to extend its drop below 1.3690 support – Scotiabank
USD/CAD set to extend its drop below 1.3690 support – Scotiabank
The loonie firms modestly ahead. Economists at Scotiabank expect the USD/CAD pair to slide below 1.3690 in the near-term.
Broader outlook is somewhat mixed
“USD/CAD cast a marginally negative look to the very short-term charts, with the USD testing the 1.3750 twice before edging lower. That trend rather implies modest downside prospects for the USD in early trade below 1.3690 support, from a purely technical perspective.”
“The broader outlook is somewhat mixed, with the USD holding above the 1.36 area that we think is pivotal for the trend in the short run but holding a net loss on the week so far, suggesting stiff-ish resistance in the low/mid 1.38s remains.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
