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USD/CAD keeps the bearish outlook – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FX Strategist at Scotiabank Eric Theoret sees occasional bullish attempts as selling opportunities.

    Key Quotes

    “Monday’s brief rally through the upper 1.29s to trend resistance has given way to renewed weakness in new cycle lows for funds, boosting the underlying strength in the bullish CAD trend. We think minor USDCAD rallies are a sell”.

    “A weekly close below 1.2750 will target an extension lower to 1.21 through mid-year”.
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