USD/CAD neutral/bullish short-term – Scotiabank

FX Strategist at Scotiabank Eric Theoret has reiterated the bullish perspective for the pair in the near term.

Key Quotes

“USDCAD remains bound within the (roughly) 1.2780-1.3000 range from early May”.

“The 50 day MA (1.2938) has provided for considerable resistance and the 9 day
MA (1.2898) has generated support on a closing basis”.

“We maintain a bullish bias and note the absence of significant resistance ahead of
1.3300”.