Home Forex trading Shut above 1.3650 might add to short-term upward momentum – Scotiabank

Shut above 1.3650 might add to short-term upward momentum – Scotiabank

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USD/CAD has rebounding from 1.35 support. The pair needs to surpass  the 1.3650 zone to see further gains, economists at Scotiabank report.

USD/CAD finds additional support in the low-1.36s hard to come by

“USD/CAD pressured key support at 1.3505 on Thursday but failing to achieve a sustained break under the figure leaves the market prone to a rebound.” 

“USD gains, have, however, been limited and there are signs in early trade here that USD is finding additional support in the low 1.36s hard to come by.”

“Gains through 1.3650 are needed for the USD recovery to extend intraday. A high close today for the USD may add to short-term upward momentum.”

 



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