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9 Sep 2014
USD/CAD comfortable around 1.1000 – Scotiabank
FXStreet (Edinburgh) - In the view of Camilla Sutton, Chief FX Strategist at Scotiabank, the pair remains comfortable in the 1.10 neighbourhood so far and with mixed technical studies.
Key Quotes
“USDCAD has proven comfortable trading either side of 1.10 but has so far been unable to sustain shifts above 1.10. Currently, it is the context of broad USD strength that is supporting USDCAD”.
“Support lies at the 200-day MA at 1.0900; while resistance comes in at 1.1002 followed by 1.1026 (the April 26th high)”.
Key Quotes
“USDCAD has proven comfortable trading either side of 1.10 but has so far been unable to sustain shifts above 1.10. Currently, it is the context of broad USD strength that is supporting USDCAD”.
“Support lies at the 200-day MA at 1.0900; while resistance comes in at 1.1002 followed by 1.1026 (the April 26th high)”.