USD/CAD targets 1.35 in the longer run – Scotiabank

FX Strategist at Scotiabank Eric Theoret sees spot heading towards 1.35 in the long term.

Key Quotes

“We look to continued gains in USDCAD with near-term risk to 1.33 and medium-term risk to 1.35”.

“Momentum indicators are bullish and the RSI is at 63—still well short of overbought territory above 70”. 

“Support is limited ahead of 1.2950. The weekly candles maintain a decidedly bullish tone”.