USD/CAD: Short-term bull trend remains intact – Scotiabank

Market news

6 March 2024

USD/CAD: Short-term bull trend remains intact – Scotiabank

USD/CAD continues to struggle to surpass the 1.3600 level. Economists at Scotiabank analyze the pair’s outlook.

Key support remains at 1.3540

The USD/CAD pair continues to run into firm resistance around the 1.3600 area but losses intraday so far are limited and the short-term USD bull trend remains intact.

Trend momentum oscillators are bullishly aligned for the USD on the intraday and daily DMI studies.

Key support remains at 1.3540, with a push below this point targeting a drop to the 1.3475/1.3480 area.

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