- USD/CAD: The low 1.3600 zone continues to look pretty solid resistance – Scotiabank
Market news
25 tháng 3 2024
USD/CAD: The low 1.3600 zone continues to look pretty solid resistance – Scotiabank
USD/CAD gains stall around 1.3600. Economists at Scotiabank analyze the pair’s outlook.
Price action is bearish
Short-term price action is leaning negative for the USD after spot peaked a little below 1.3615, close to where the USD has topped out a number of times since late February.
Price action is bearish (an ‘evening star’ candle pattern formed on the six-hour chart since late Friday) which should mean some corrective drift lower in in funds in the near term towards 1.3535/1.3555.
The low 1.3600 zone continues to look pretty solid resistance for the USD.
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 disclaimerOpen Demo Account & Personal Page