FXStreet (Edinburgh) - Eric Theoret, Currency Strategist at Scotiabank, expects USD/CAD to stay neutral in the short-term. Key Quotes “Momentum signals are conflicted, trend indicators are muted, and USDCAD is trading just above support around the 38.2% Fibonacci retracement level (1.3071) of the late September-early October decline”. “A failure to respect support at this level would shift the focus back toward the mid-October lows under 1.2850”. “We note that medium-term signals remain biased to USDCAD gains and expect USDCAD to fully retrace its recent decline”. For more information, read our latest forex news.