USD/CAD: technicals point to further upside – Scotiabank

FX Strategists at Scotiabank remain bullish on the pair, expecting at the same time resistance in the 1.2770 region in the near term.

Key Quotes

“Short-term trends remain constructive for the USD although spot gains through the overnight session have been minimal in nature”.

“Trend signals are favourable on the shorter-term studies, suggesting funds will retain a better bid undertone around minor dips to the 1.2625 area”.

“We see resistance near 1.2660 (minor late Aug high) and 1.2775 (channel and major high from Aug)”.