USD/CAD remains in a short term neutral/bearish – Scotiabank

FXStreet – in the Short term, the Outlook for the currency remains neutral to bearish, said Eric Sum, FX strategist at Scotiabank.

Important Quotes:

The currency pair USD/CAD has its short-term smoothing of lines (9-days-line in 1,3665, 21-days-line in 1,3632). The psychological mark of 1.36, however, has held that on a daily closing price basis. The momentum signals turn on a broad Front to the South, suggesting a shift in the risks. With a break below 1.36 to further losses in the direction of 1,3550 threaten. The key support stands at 1,3535/1,3530. The 50-day line, listed last on 1,3479. A short-term resistance is found at 1,3650.

** FXStreet News Editorial, FXStreet**

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