USD/CAD neutral near-term – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Currency Strategist at Scotiabank Eric Theoret argued that the pair’s stance remains neutral in the short-term, with focus on the 1.39/1.40 area.

    Key Quotes

    USDCAD is trapped in a tight trading range on the short‐term charts and is more or less unchanged on the week”.

    “We had expected gains through resistance in the low 1.39 area to deliver more gains but the rally appears to have stalled around 1.40”.

    “A break either side of 1.39/1.40 is needed to give the market a little more momentum one way or the other”.
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