USD/CAD neutral, within 1.2820-1.3050 near term – Scotiabank

Pablo Piovano FXStreet

The pair is seen within a 1.2820-1.3050 range in the short-term horizon, noted FX Strategists at Scotiabank.

Key Quotes

“USDCAD struggled to extend much beyond 1.2980 resistance on Thursday and subsequent congestion has centered around 1.2950”.

“Daily momentum signals are neutral and DMI’s are muted/trendless. The weekly chart is showing a doji (uncertainty) just below the 100 week MA (1.2976)”.

“We await a break of this week’s wide range roughly bound between 1.2820 and 1.3050”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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