The Canadian Dollar is softer on the day. Economists at Scotiabank analyze USD/CAD outlook.
Gains through to a 1.33 handle may develop a little more now
CAD losses are extending a little more as the USD establishes a foothold above minor resistance around 1.3275 – now support.
Gains through to a 1.33 handle may develop a little more now, with trend momentum positive on the intraday chart.
Firm resistance is likely to emerge between 1.3350 and 1.3375.
See: USD/CAD to move lower in the coming weeks and break through support at 1.31 – HSBC
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