USD/CAD strong resistance seen in 1.3600 — Scotiabank

Strategists at FX Scotiabank noted that the outlook in the short term the pair remains alcistwith a stiff resistance around the area of 1.3600.

Key quotes

«The technical picture the USDCAD became obviously more optimistic about the move last week above 1.3400; profits sustained through the area at 1.3500 improve the risks of rising medium-term to the range of 1.3900/1.4000, we think».

«The patterns on an intraday basis suggest that the USD is consolidating the push higher in the area of 1.3500 yesterday afternoon. We seek technical support firm in dives intraday resistance of 1.3525/45 to 1.3600, at the end of 2016″.

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