USD/CAD settles below 1.34. Scotiabank economists analyze the pair's outlook.
Intraday and daily trend strength oscillators are neutral.
USD/CAD has eased slightly since Tuesday's test of the 1.34 zone, without really looking that good, USD losses have eased below minor support at 1.3375 today, but there has been little selling pressure from follow-up.
The intraday and daily trend strength oscillators are neutral, reflecting the funds' lack of dynamism at the moment. However, long-term risks remain oriented toward some corrective gains in the USD following the late December (weekly) bullish reversal in the USD.
We must look for support for the USD falls towards the 1.3325/1.3350 area.
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.
