USD/CAD bearish near-term – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Eric Theoret, FX Strategist at Scotiabank, has reiterated the bearish stance on the pair in the short-term.

    Key Quotes

    “Despite the intraday surge in USDCAD, short-term price signals suggest the USD has turned lower decisively and aggressively from the upper 1.29s”.

    “We see strong resistance now at 1.2990/00. We see key intraday support at 1.2830/40. Below here should see the USD slide more significantly”.
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