advancing beyond the mid-1.34 zone has been pretty consistent over the past week. Economists at Scotiabank analyze the pair’s outlook.At the risk of sounding like the proverbial broken clock, the CAD looks cheap and should be trading somewhat higher than it is. Very stretched valuation suggests near-term scope for the USD to extend should be limited, all else equal.
Intraday trading patterns reinforce the picture of firm resistance in the mid-1.34 zone but, taking a step back, the underlying bull trend in the USD has developed solidly on the short-term studies which suggest spot will remain well supported for now and tilts risks towards additional gains – eventually. Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »