USD/CAD short-term technicals: neutral-bullish - Scotiabank

Analysts at Scotiabank offered a snap-shot technical analyses on USD/CAD.

Key Quotes:

"Short-term technicals: neutral-bullish.

USD/CAD is quiet trading around the mid-point of its range from late January, consolidating below its 200 day MA near 1.3150.

Momentum indicators are neutral, DMI’s are muted, the ADX is trendless, and short-term MA’s have flattened out. We note the sequence of higher lows from January 31, suggesting near-term support in the mid-1.30 area.

Resistance is limited ahead of 1.32."