USD/CAD: Short-term chart patterns are turning a little more USD-supportive – Scotiabank
USD/CAD climbs back to the low 1.36s. Economists at Scotiabank analyze the pair’s outlook.
Support intraday is 1.3570/1.3575
Canada gets an update on GDP today. Industry-level output for September is expected to come in flat. Q3 GDP is expected to gain a feeble 0.1% (SAAR) after falling 0.2% in Q2. Soft data will not help the CAD.
Short-term chart patterns are turning a little more USD-supportive. But USD gains have not – yet anyway – stretched meaningfully above levels (resistance in the 1.3610/1.3615 zone) that would imply potential for the USD rebound to stretch to 1.3650/1.3560 where firmer resistance should be expected.
Support intraday is 1.3570/1.3575 and 1.3540/1.3550.
Reprinted from FXStreet_id，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.