USD/CAD: 1.3500, why not? - Scotiabank

Ross J Burland FXStreet

Analysts at Scotiabank explained that their outlook for USD/CAD short-term from the technicals are bullish.

Key Quotes:

"Early Asian gains for the USD have not been sustained over the balance of the session so far, giving the intraday chart a slightly heavy feel.

We think USD/CAD downside risks from here are very limited, however, and expect to see USD dips well supported in the 1.3275/1.33 range.

With the USD closing above resistance at 1.3315 (long-term retracement resistance) Friday, we think there is no real impediment to the USD pushing on towards 1.35+."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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