Ekonomické zprávy
08.11.2021

USD/CAD may march forward in the next few weeks - Scotiabank

FXStreet reports that analysts at Scotiabank note that USD/CAD was halted by the 200-day moving average (DMA) at 1.2479 last week, which is a sign of CAD strength but a minor bounce in the next few weeks is on the cards.

“The overall technical tone remains consolidative and it is impossible to exclude the risk of USD/CAD creeping a little higher still in the next few weeks. But rejection of the 200-DMA is an important sign of resilience in the CAD, we think.” 

“USD support is 1.2415 and 1.2385.”

“Resistance is 1.2525/30.”


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