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5 May 2015
USD/CAD turns bearish near term – Scotiabank
FXStreet (Edinburgh) - Camilla Sutton, Chief FX Strategist at Scotiabank, noted the bearish tone in USD/CAD in the short term.
Key Quotes
“USDCAD short‐term technicals: bearish; however signals are shifting with the MACD even flirting with a bullish upside break”.
“Accordingly downside technical momentum is fading but the over signal favours downside”.
“Near‐term support lies at the recent closing low of 1.2020; followed by the recent intraday low of 1.1945; while resistance comes in at yesterday’s high of 1.2181”.
Key Quotes
“USDCAD short‐term technicals: bearish; however signals are shifting with the MACD even flirting with a bullish upside break”.
“Accordingly downside technical momentum is fading but the over signal favours downside”.
“Near‐term support lies at the recent closing low of 1.2020; followed by the recent intraday low of 1.1945; while resistance comes in at yesterday’s high of 1.2181”.