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USD/CAD outlook remains bullish – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - According to Eric Theoret, FX Strategist at Scotiabank, the pair’s outlook remains bullish in the near term.

    Key Quotes

    “USDCAD’s breakout to fresh multi-year highs has coincided with a renewed bullish turn in both trend and momentum indicators”.

    “There are few major resistance levels ahead of 1.4500, however we maintain a cautious eye toward USDCAD as we consider the negative divergence in momentum indicators through most of 2015—with neither the MACD or RSI providing confirmation to the continued rally in USDCAD”.
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