USD/CAD: A push under high/low support at 1.3495/1.3500 should add to downside pressure – Scotiabank

Market news

14 September 2023

USD/CAD: A push under high/low support at 1.3495/1.3500 should add to downside pressure – Scotiabank

The CAD is among the top performing G10 currencies versus the US Dollar on the day. Economists at Scotiabank analyze USD/CAD’s technical outlook.

Resistance is 1.3585/1.3595

USD/CAD is generating a bit more downside momentum on the short-term chart as the pair continues to – slowly – edge back from last week’s high just under 1.37.

A push under high/low support at 1.3495/1.3500 should add to downside pressure and put a retest of the low 1.34 area on the radar.

Resistance aligns at 1.3585/1.3595.

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