USD/CAD may pressure key support at 1.3655 – Scotiabank
|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
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.