USD/CAD is little changed on the day. Economists at Scotiabank analyze the pair’s technical outlook.
Short-term USD trends remain positive
Short-term USD trends remain positive, with no evident signs of weakness in the intraday patterns. USD gains are starting to look a little stretched from a short-term point of view, however, and the daily candle chart does show a potential stalling signal developed Thursday – right on noted (major) resistance at 1.3375.
A net loss for the USD today is needed to support a stall/reversal signal.
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