USD/CAD: BREAK UNDER 1.3500 WOULD IMPLY DOWNSIDE POTENTIAL TO 1.3425 – SCOTIABANK

avatar
· 閱讀量 105



CAD needs to push below 1.35 against the USD to improve, economists at Scotiabank report.

Recent rally is running out of momentum

Monday’s snap higher off the intraday low for the USD retested the break under trend support that the market had established earlier in the session. Trend support-turned-resistance effectively held but easy gains for the USD remain a feature of this market and gives the clear impression that higher is the path of least resistance for USD/CAD. 

But there are signs from daily price action (after the USD still closed net lower on the day Monday) that the recent rally in the USD is running out of momentum. 

The 1.3575 zone is resistance and a potential double top; a break under 1.3500 triggers that signal and implies downside potential to 1.3425. 

 


風險提示:本文所述僅代表作者個人觀點,不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證,對於基於該內容所採取的任何行為,不承擔任何責任,除非另有書面明確說明。

喜歡的話,讚賞支持一下
回覆 0
暫無留言。 來發表第一則觀點吧。

  • tradingContest