USD/CAD cautiously bearish — Scotiabank

Eric Theoret, strategist of FX at Scotiabanknoted that the outlook for the pair USD/CAD remains bearish in the short term.

Statements key

«Signals are momentary, they are bearish, the DMI are giving confirmation, and the MA in the short term are alineadasen way bassist with the MA of 9 days that drift behind the MA for 21 days.»

«However, the candles have recently issued mixed signals with a bullish reversal last Thursday of the decline of the previous session and the confirmation of clear support at the 200-day MA (1.3225)».

«We expect a short-term support at 1.3250 and we will see limited resistance before the mid-1.3300».

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