6 Jul 2015
USD/CAD bullish short-term – Scotiabank
FXStreet (Edinburgh) - In the view of Eric Theoret, Currency Strategist at Scotiabank, the prospects for the pair remains tilted to the upside in the near term.
Key Quotes
“Momentum and trend indicators are biased to further upside”.
“The RSI at 67 leaves ample space for continued gains”.
“Near term resistance lies at 1.2680, coinciding with the March 31 shooting star doji”.
“A break of this level would shift the focus to the recent YTD and multi-year high at 1.2835”.
“Trade, housing, and employment releases should maintain a focus on domestic developments through the remainder of the week”.
Key Quotes
“Momentum and trend indicators are biased to further upside”.
“The RSI at 67 leaves ample space for continued gains”.
“Near term resistance lies at 1.2680, coinciding with the March 31 shooting star doji”.
“A break of this level would shift the focus to the recent YTD and multi-year high at 1.2835”.
“Trade, housing, and employment releases should maintain a focus on domestic developments through the remainder of the week”.