FX Strategists at Scotiabank noted the pair’s near term outlook stays neutral with resistance expected at 1.3050/80. Key Quotes “USDCAD has yet to break out of its recent consolidation range with congestion centered around 1.3000″. “Trend and momentum indicators are modestly bearish however their magnitude is relatively muted. The weekly chart is showing a third consecutive decline testing the 100 week MA (1.2976) for the first time since mid-June”. “We remain bearish targeting the 100 day MA (1.2963) and we note the absence of any additional support ahead of the 1.2900-1.2920 area. Near-term resistance is expected between 1.3050 and 1.3080″. 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 Ripple Technical Analysis: XRP/USD ejects into the sky, high anticipation with SBI Holdings testing Ripple’s xRapid FX Street 5 years FX Strategists at Scotiabank noted the pair's near term outlook stays neutral with resistance expected at 1.3050/80. Key Quotes "USDCAD has yet to break out of its recent consolidation range with congestion centered around 1.3000". "Trend and momentum indicators are modestly bearish however their magnitude is relatively muted. The weekly chart is showing a third consecutive decline testing the 100 week MA (1.2976) for the first time since mid-June". "We remain bearish targeting the 100 day MA (1.2963) and we note the absence of any additional support ahead of the 1.2900-1.2920 area. Near-term resistance is expected between 1.3050 and 1.3080". 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.
