USD/CAD: May try to test the 1.3475 support – Scotiabank
22.08.2024, 11:35

USD/CAD: May try to test the 1.3475 support – Scotiabank

The Canadian Dollar (CAD) is trading a bit off its overnight peak around 1.3575 but retains a generally firm undertone. The pro-risk mood might be extending CAD sentiment a little support, Scotiabank’s Chief FX Strategist Shaun Osborne notes.  

More USD/CAD weakness ahead

“A likelier explanation for CAD gains is that we may be seeing the impact of the record net CAD short positions reflected in the recent CFTC data feeling increasingly uncomfortable with CAD strength. Net short CAD activity picked up sharply through mid-year, reflecting weaker cyclical dynamics and the BoC’s relatively early start to the easing cycle.”

“Like previous (though less significant) ramp ups in net selling of the CAD (in April and November last year), the latest CAD slide stopped around 1.39 and now, the CAD’s three week advance from that low may be squeezing weaker CAD short hands and giving the CAD a short-covering lift. Spot losses have extended marginally below 1.3595 to reach a four-month low for the USD.”

“Trend strength signals are aligned bearishly for USD/CAD on the intraday and daily DMI oscillators while the weekly study is close to flipping bearish. Losses below 1.3590/95 (200-day MA and range lows from May and July) are marginal but suggest more USD/CAD weakness ahead. Support is 1.3560 (50% retracement of the 2024 USD rally) and 1.3475 (retracement and major trend). Resistance is 1.3625/50.”

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

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.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik