USD/CAD: Charts suggest a fairly easy push on to the 1.36/1.37 range – Scotiabank

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22 February 2023

USD/CAD: Charts suggest a fairly easy push on to the 1.36/1.37 range – Scotiabank

USD/CAD has established above the 1.35 level. Economists at Scotiabank expect the pair to test the 1.36/37 area.

Flows are liable to favour the USD

“Risk appetite looks soft and flows are liable to favour the USD in the short run.”

“A bullish alignment of intraday and daily DMI oscillators supports the bullish backdrop for the USD; the charts suggest a fairly easy push on to the 1.36/1.37 range from here to retest the peaks seen in December.”

See: CAD is likely to struggle to make considerable ground against USD and EUR for now – Commerzbank

Currencies. Daily history for Wednesday, February 22, 2023

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