USD/CAD: Downside risk to the 1.2980/90 area in the next few weeks – Scotiabank USDCAD Technical Analysis Banks
Spot losses have extended far enough below the 1.32 area now to make the technical break more sustainable.
Recall that USDCAD’s loss of support at 1.3315 earlier this month triggered a double top which implies downside risk to the 1.2980/90 area in the next few weeks. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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