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USD/CAD range-bound near term – Scotiabank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - In the view of Eric Theoret, Currency Strategist at Scotiabank, the outlook for the pair remains range-bound in the short-term.

    Key Quotes

    USDCAD has yet to break out of its range from December 18th, as it consolidates around 1.3900 just above its 9 day MA (1.3859)”.

    “Momentum signals are conflicted and trend indicators are muted”.

    “We await a meaningful break of either 1.3800 or 1.4000. Longer-term signals are broadly bullish”.
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