He USD/CAD It has remained with little change in a quiet trade. The economists of Scotiabank They analyze the pair's prospects.
1.3540/1.3550 now looks like firmer resistance
This week, the USD/CAD pair has spent a lot of time around the 1.3540 area that capped the USD in January and never looked like it would reach new highs.
1.3540/1.3550 now looks like firmer resistance.
Losses through 1.3505 late on Tuesday are a minor technical pullback for the USD and still imply a bit more downside risk for spot today (1.3450/1.3460). However, a more decisive downward turn is not yet evident and the trend dynamics remain bullish for the USD on the intraday chart.
USD weakness below 1.3450 would tip near-term risks a little more decidedly to the downside for the USD.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
