• USD/CAD: Scope for Loonie losses looks limited – Scotiabank

Noticias del mercado

26 julio 2023

USD/CAD: Scope for Loonie losses looks limited – Scotiabank

USD/CAD is firmer on the day. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes the pair’s outlook.

Support aligns at 1.3160

The CAD is doing is usual thing of underperforming in line with the general USD trend but I still rather think scope for CAD losses is limited at the moment. 

Price action is still essentially consolidating and the bearish wedge pattern in development since mid-July tilts broader technical risks to the downside still. 

Short-term charts still highlight firm resistance in the 1.3200/25 zone, with major resistance at 1.3325/50 above there. 

Support – bear breakdown trigger – is 1.3160.

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: