USD/CAD: Looking to the technical's, supported 1.1950 - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT Chief Currency Strategist at Scotiabank noted that the CAD is a relative underperformer among its peers.

Key Quotes:

"In the context of broad-based USD weakness, with oil an ongoing focus in the absence of domestic developments."

"WTI is up, climbing back above $60/bbl for the first time since last week and providing support to CAD."

"Near term BoC risk is relatively limited, with OIS reflecting the recent shift to a neutral policy bias."

"As such, we look to technical levels for USD/CAD including the recent closing low 1.2020 followed by intraday lows near 1.1950."