- Analytics
- News and Tools
- Market News
- USD/CAD: Risks tilted to the downside and a retest of the 1.3150/1.32 area – Scotiabank
USD/CAD: Risks tilted to the downside and a retest of the 1.3150/1.32 area – Scotiabank
USD/CAD remains largely rangebound in the upper 1.32 zone. Economists at Scotiabank analyze the pair’s outlook.
Range trading may extend a little in the very short run
USD/CAD rebounded firmly from a test of the 1.3250 zone after breaking minor trend support – which should figure as initial intraday resistance at least now – at 1.3285.
Short-term trend momentum is flat, suggesting range trading may extend a little in the very short run. But last Friday’s surge in the CAD remains the salient feature of the daily chart (USD-bearish outside range rejection of major resistance in the upper 1.33s) and tilts broader USD/CAD risks to the downside and a retest of the 1.3150/1.32 area at least.
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
