USDCAD: Losses to resume on a break under 1.3255/65 in the short run – Scotiabank USDCAD Banks
slides back below 1.3300 mark. Economists at Scotiabank expect the pair to sustain further losses on a break below 1.3255/65.“Intraday and daily trend strength signals are aligned bearishly for the USD and the weekly DMI has clearly moderated from the strongly bullish position seen through Sep/Oct.”
“Longer-term price signals suggest a broader turn in the USD may be developing but we think there is likely to be significant support for the USD around the 1.30 level .“We expect USD losses to resume on a break under 1.3255/65 in the short run.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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