• USD/CAD: Directional risks tilted to the downside – Scotiabank

Market news

12 tháng 9 2023

USD/CAD: Directional risks tilted to the downside – Scotiabank

USD/CAD holds below 1.36. Economists at Scotiabank analyze the pair’s technical outlook.

Losses through the upper 1.35s to open up the low 1.35s

Short-term price patterns suggest a minor consolidation in the USD after spot edged back from last week’s peak near 1.37. The pattern of trade suggests a small bear wedge pattern in development which tilts directional risks to the downside for spot. 

USD gains are curbed by resistance in the low 1.36 zone. 

Losses through the upper 1.35s (and below Monday’s low around 1.3560/65) should see spot edge back to the low 1.35s.

 

Market Focus
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
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.