USD/CAD Outlook is short-term bearish – Scotiabank

FXStreet – The Scotiabank FX Analyst Eric Sum remains for the Pair in the short term bearish set up.

Important Quotes

“The USD/CAD reached on Friday of his new may Low. The 50% Retracement of the January-may 2016 decline from 1,3575 has been broken.”

“This level offered to the end of the year 2016 is strong resistance and the last 4 sessions, it served as a support.”

“A break gives way to the March High of 1,3535, followed by 1,35. On the other hand, the 1,3650 offers a resistance.”

** FXStreet News Editorial, FXStreet**

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