USD/CAD retains a firm, technical undertone but it all looks lackluster on the charts – Scotiabank
Source Fxstreet
USD/CAD retains a bullish undertone but may be losing momentum, economists at Scotiabank say.
Nearby support is 1.3465
USD/CAD retains a firm, technical undertone but it all looks lackluster on the charts, with trend momentum signals ticking over in barely positive (i.e., USD-bullish) territory on the intraday, daily and weekly charts.
Price action on the longer-term charts late last year rather implied a major peak/reversal developed around the 1.3900 point which tilts risks towards some additional, corrective USD weakness in the coming months but the CAD has its work cut out to improve.
Nearby support is 1.3465 ahead of 1.3360 and major, medium-term support at 1.3180.
Resistance is 1.3540/1.3550 and 1.3580/1.3600.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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AUD/USD holds ground near 0.6700 due to cautious RBA toneAUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
AUD/USD moves little after two days of gains, hovering around 0.6700 during the Asian hours on Friday. The pair steadies as the Australian Dollar (AUD) receives support amid cautious sentiment surrounding the Reserve Bank of Australia’s (RBA) policy outlook.
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