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USD/CAD bearish/neutral outlook – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FX Strategist Eric Theoret at Scotiabank has reiterated the bearish/neutral stance in USD/CAD in the near-term.

    Key Quotes

    “Both the MACD and RSI hint to a deceleration in the pace of decline”.

    “Thursday’s sizeable drop was followed by Friday’s remarkably narrow range, suggesting a considerable degree of uncertainty”.

    “Near-term support is expected in the range between 1.3500 and 1.3520. Resistance is expected at 1.3620 and 1.3650”.
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