USD/CAD may pressure key support at 1.3655 – Scotiabank

FXStreet Insights Team FXStreet

USD/CAD moves below the 1.37 level. Economists at Scotiabank analyze the pair’s outlook.

Intraday resistance is 1.3705/1.3710

The USD slide has steadied but the USD/CAD pair is not really doing enough on the short-term charts to avert continued downside pressure towards key support at 1.3655. Sustained USD losses through here would suggest another, significant leg lower in funds was unfolding.

Intraday resistance is 1.3705/1.3710, with stronger resistance at 1.3750/1.3760 now.

See – GBP/USD: Minor losses should find support in the low 1.24 zone – Scotiabank

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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