USD/CAD Bearish Near-Term – Scotiabank

USD/CAD Bearish Near-Term – Scotiabank

Eric Theoret, FX Strategist at Scotiabank, has reiterated the bearish stance on the pair in the short-term.

Key Quotes

“Despite the intraday surge in USDCAD, short-term price signals suggest the USD has turned lower decisively and aggressively from the upper 1.29s”.

“We see strong resistance now at 1.2990/00. We see key intraday support at 1.2830/40. Below here should see the USD slide more significantly”.