USD/CAD: Rebound to stall near the mid-1.34 zone – Scotiabank USDCAD Banks
clings to gains above 1.3400. However, economists at Scotiabank expect the mid-1.24s to cap the advance.“Corrective USD gains have extended to near the mid-1.34 zone where we do think there is a reasonable technical case for the rebound to stall. This is where the 61.8% retracement of the sell-off from 1.3575 and short-term bull potential from the rebound from the low 1.32s converge.” Information on these pages contains forward-looking statements that involve risks and uncertainties.
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