USD/CAD to retest 1.3440/1.3450 on a move below support at 1.3540/1.3550 – Scotiabank
Source Fxstreet
USD/CAD is little changed on the session so far. Economists at Scotiabank analyze the pair’s outlook.
Risks tilted mildly to the downside
A lower close to the USD on Friday tilts risks mildly to the downside for funds from a technical point of view.
At the very least, spot is looking at pretty solid resistance at 1.3600/1.3605 after clear rejections of the figure area last week.
The USD’s mild drop Friday also formed the third leg of a bearish ‘evening star’ pattern on the daily candle chart which should see spot put a bit more pressure on moderate support at 1.3540/1.3550 in the short run and, below there, point to a test of 1.3440/1.3450.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Crypto Today: Bitcoin, Ethereum, XRP bulls accelerate rally amid rising ETF inflowsThe cryptocurrency market remains bullish on Friday, led by Bitcoin’s (BTC) surge above $77,000. Altcoins, including Ethereum (ETH) and Ripple (XRP), mirror BTC’s positive outlook, trading near $2,400 and $1.35, respectively.
The cryptocurrency market remains bullish on Friday, led by Bitcoin’s (BTC) surge above $77,000. Altcoins, including Ethereum (ETH) and Ripple (XRP), mirror BTC’s positive outlook, trading near $2,400 and $1.35, respectively.
Ethereum rallies for five consecutive sessions, targeting $2,800 next.On August 21, Ethereum (ETH) extended its rally, breaking through the $2,300 mark to reach $2,362, hitting its highes
As of the Asian session on August 21, Bitcoin (BTC) price briefly surged past $75,000 intraday, reaching a daily high of $75,897.34, with its weekly cumulative gain exceeding 20%, marking
Bitcoin (BTC) demand has turned positive across both spot and perpetual futures markets for the first time since its October 2025 all-time high, according to CryptoQuant founder Ki Young Ju on Thursday.
Bitcoin price surges toward $72,000, driving a collective rally in crypto concept stocks, with MicroStrategy extending gains by 10%.In pre-market trading on August 20, Eastern Time, Bitco
Related Instrument
