• CAD/MXN: Losses could extend to the 12 area – Scotiabank

Noticias del mercado

20 julio 2023

CAD/MXN: Losses could extend to the 12 area – Scotiabank

MXN continues to strengthen and extend gains through its recent range highs against the CAD. Economists at Scotiabank analyze CAD/MXN outlook.

Significant rally unlikely to develop

The cross has put some pressure on bear trend resistance in the past couple of weeks but there is little else from price action to suggest that a significant rally in the CAD is poised to develop. 

Daily and weekly DMI signals do highlight the stretched nature of the CAD sell-off here but the degree of ‘stretch’ is not that extreme (relative to recent cycles). 

Losses could, potentially, extend to the 12 area (range lows from 2010/15) now.

 

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: