In view of FX Strategists at Scotiabank, the pair is expected to meet resistance in the mid-1.3100s ahead of the 1.3200/20 band in the short-term horizon. Key Quotes “Broader developments remain dominant and correlations suggest a continued focus on oil and commodities. Domestic risk is set to return as BoC Gov. Poloz and Sr. Dep. Gov. Wilkins are scheduled to appear before the House of Commons Finance Committee (3:30pm ET) to present the Bank’s latest MPR. The outlook for relative central bank policy is once again deteriorating as yield spreads retrace last week’s BoC-driven compression. Measures of implied CAD volatility are climbing and short-term risk reversals are showing signs of a turn. CAD remains vulnerable as WTI threatens a break of its recent ‘bear flag’. “USDCAD is consolidating within Friday’s range and hovering just above the upper bound of the broken channel from June (now at 1.3107). Daily momentum signals are modestly bullish and the DMI’s are confirming however the ADX trend strength indicator remains incredibly weak. Recent support has been observed below 1.3080 around the 100 day MA at 1.3076 and resistance is expected around 1.3150 with additional resistance in the 1.3200- 1.3220 area”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next News flash: Dash (DASH) and IOTA (IOT): The bulls among a sloth of bears FX Street 4 years In view of FX Strategists at Scotiabank, the pair is expected to meet resistance in the mid-1.3100s ahead of the 1.3200/20 band in the short-term horizon. Key Quotes "Broader developments remain dominant and correlations suggest a continued focus on oil and commodities. Domestic risk is set to return as BoC Gov. Poloz and Sr. Dep. Gov. Wilkins are scheduled to appear before the House of Commons Finance Committee (3:30pm ET) to present the Bank's latest MPR. The outlook for relative central bank policy is once again deteriorating as yield spreads retrace last week's BoC-driven compression. Measures of implied CAD volatility… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
