USD/CAD: Close above 1.3650 may add to short-term upward momentum – Scotiabank

USD/CAD has rebounding from 1.35 support. The pair needs to surpass the 1.3650 zone to see further gains, economists at Scotiabank report.

USD/CAD finds additional support in the low-1.36s hard to come by

“USD/CAD pressured key support at 1.3505 on Thursday but failing to achieve a sustained break under the figure leaves the market prone to a rebound.”

“USD gains, have, however, been limited and there are signs in early trade here that USD is finding additional support in the low 1.36s hard to come by.”

“Gains through 1.3650 are needed for the USD recovery to extend intraday. A high close today for the USD may add to short-term upward momentum.”

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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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