USD/CAD: Losses may slow in the low/mid 1.3500s – Scotiabank

USD/CAD drifts a little lower. Economists at Scotiabank analyze the pair’s outlook.

Resistance is seen at 1.3600/1.3610

The USD/CAD pair is drifting lower but momentum is weak and losses may slow in the low/mid 1.3500s absent a stronger sense of (downward) direction developing in this market. 

Broadly flat range trading in funds in the past few weeks leaves longer run momentum studies look weak and neutral. 

Resistance is 1.3600/1.3610.

See – EUR/USD: Move above 1.0872 liable to spur additional gains to 1.0900+ – Scotiabank