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USD/CAD bearish-neutral short-term – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - Eric Theoret, Currency Strategist at Scotiabank, noted the outlook on the pair remains neutral-bearish in the near-term.

    Key Quotes

    “Bearish signals continue to moderate as we note USDCAD’s failure to re-test last Thursday’s lows near 1.3950”.

    USDCAD has yet to reach its 50 day MA (1.3891), and there appears to be sizeable support between 1.3950 and 1.3980”.

    “Resistance is expected between 1.4100 and 1.4150”.
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