USD/CAD: Near-term risks geared towards some drift back to the 1.3550/1.3575 area – Scotiabank
USD/CAD has edged slightly higher to retest the 1.3600+ area. Economists at Scotiabank analyze the pair’s outlook.
USD’s latest push above the 1.3600 area appears to have stalled out again
Spot gains appear to have topped out around 1.3610 again.
USD losses are not yet of the magnitude that would indicate a clear technical top has developed but the persistence of USD resistance at 1.3600/1.3610 through March so far suggests near-term risks are geared towards some drift in the USD back to the 1.3550/1.3575 area.
Reprinted from FXStreet，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.