USD/CAD moves below the 1.37 level. Economists at Scotiabank analyze the pair’s outlook.
Intraday resistance is 1.3705/1.3710
The USD slide has steadied but the USD/CAD pair is not really doing enough on the short-term charts to avert continued downside pressure towards key support at 1.3655. Sustained USD losses through here would suggest another, significant leg lower in funds was unfolding.
Intraday resistance is 1.3705/1.3710, with stronger resistance at 1.3750/1.3760 now.