USD/CAD: Movementto be quite limited amid mixed technicals – Scotiabank


The Canadian Dollar can’t hold sub-1.36 gains against the USD. Economists at Scotiabank look for more range-trading in the short-term at least.

Shorter-term price signals are mixed for USD/CAD

“A weak (technically bearish) close for the USD yesterday should – on the face of it – lend more weight to pressuring support around 1.36 but intraday price action suggests a firm floor and, possibly, a bullish reversal developing around the overnight failure to extend much below the figure area once again.”

“Support is 1.3590/00.”

“Resistance is 1.3665/75.”

 

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