• USD/CAD: Extension of the recent 1.31/1.33 chop may develop – Scotiabank

Noticias del mercado

20 julio 2023

USD/CAD: Extension of the recent 1.31/1.33 chop may develop – Scotiabank

USD/CAD turns neutral within 1.31/1.33 range, economists at Scotiabank report.

USD/CAD’s technical tone has turned neutral

The broader range for USD/CAD is well-defined by technical resistance at 1.3350/75 and support at 1.3105/15. 

Shorter-term trend momentum has weakened – to neutral on the daily DMI – and an extension of the recent 1.31/1.33 chop in spot may develop from here. 

USD/CAD trends remain bearish from a longer run point of view following the USD’s break under long run trend support (1.3350 on the weekly chart). 

USD/CAD will have to gain through 1.3385/90 to show more obvious technical strength at this point. 

 

Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: