- Analytics
- News and Tools
- Market News
- USD/CAD: Losses to extend towards the 1.3375/1.3425 area – Scotiabank
USD/CAD: Losses to extend towards the 1.3375/1.3425 area – Scotiabank
USD/CAD breaks below 100-Day Moving Average (DMA). Economists at Scotiabank expect the pair to extend its decline toward the 1.3375/1.3425 area zone.
Firm resistance on USD rebounds to the 1.35 area
“Steady losses in USD/CAD through the past week leave the USD’s technical undertone looking soft and prone to more losses.”
“USD/CAD has broken below the 40 (1.3593) and 100 (1.3523) DMAs supports and trend oscillators are aligned bearishly for the USD on the intraday and daily charts.”
“We look for firm resistance on USD rebounds to the 1.35 area now and for USD losses to extend towards the 1.3375/1.3425 area.”
© 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
