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4 Jan 2016
USD/CAD range-bound near term – Scotiabank
FXStreet (Edinburgh) - In the view of Eric Theoret, Currency Strategist at Scotiabank, the outlook for the pair remains range-bound in the short-term.
Key Quotes
“USDCAD has yet to break out of its range from December 18th, as it consolidates around 1.3900 just above its 9 day MA (1.3859)”.
“Momentum signals are conflicted and trend indicators are muted”.
“We await a meaningful break of either 1.3800 or 1.4000. Longer-term signals are broadly bullish”.
Key Quotes
“USDCAD has yet to break out of its range from December 18th, as it consolidates around 1.3900 just above its 9 day MA (1.3859)”.
“Momentum signals are conflicted and trend indicators are muted”.
“We await a meaningful break of either 1.3800 or 1.4000. Longer-term signals are broadly bullish”.