- Analytics
- News and Tools
- Market News
- USD/CAD: Limited scope for rebounds, ongoing pressure on the downside toward the 1.31 area – Scotiabank
USD/CAD: Limited scope for rebounds, ongoing pressure on the downside toward the 1.31 area – Scotiabank
USD/CAD is soft but holding within Wednesday’s range. Economists at Scotiabank analyze the pair outlook.
The underlying trend is USD-negative, but…
The underlying trend is USD-negative but trend dynamics are not quite as strong here as in some of the other USD pairs. Trend oscillators are, however, aligned bearishly for the USD across short, medium, and longer-term studies which continues to point to limited scope for USD rebounds and ongoing pressure on the downside towards the 1.31 area in the near term.
Resistance is 1.3200 and 1.3250.
© 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
