USD/CAD: An advance to the 1.3315/25 resistance zone is on the cards – Scotiabank

USD/CAD pressures upper 1.32s. Economists at Scotiabank analyze the pair’s technical outlook.

The upper 1.32 zone has capped recent advances

Solid gains for the USD on the day so far leave the USD/CAD pair retesting the upper 1.32 zone that has capped recent USD advances. 

A little more technical momentum may be building under USD gains, suggesting an advance to the 1.3315/25 resistance zone is on the cards. 

Support is 1.3211/10.

See – USD/CAD: Risks remain to the hawkish side for the BoC and the bullish side for the Loonie – HSBC