USD/CAD remains short-term bearish – Scotiabank

FXStreet – The FX strategists of the Scotiabank remain bearish on this currency pair.

Important Quotes:

The price development of the past two weeks, has the chart of the currency pair USD/CAD deteriorated. The reversal of the trend at the beginning of may, also technical Top, called, caused a break of the support at 1,3650.

While the short-term momentum indicators remain bearish aligned, we believe that the USD is slowly approaching levels which are attractive for re-purchase. A support is, in our opinion, in the case of 1,3440. Only a jump over 1,3510 would brighten up the chart technical situation.

** FXStreet News Editorial, FXStreet**

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