USDCAD SIGNAL 07-04-22 : USDCAD Key resistance at 1.2590 to cap the advance – Scotiabank.

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USDCAD SIGNAL

USDCAD SIGNAL 07-04-22 : USDCAD Key resistance at 1.2590 to cap the advance – Scotiabank.

USDCAD SIGNAL : USDCAD gains have extended to the upper 1.25s. Economists at Scotiabank expect the key resistance at 1.2590 to cap the pair.

USD/CAD to correct lower towards 1.2485/75 on a dip below 1.2540.

USDCAD SIGNAL : We had anticipated gains through the upper 1.25s – which might include a retest of key resistance (former support) at 1.2590. That may still happen but we expect strong resistance there and note that intraday price action is suggesting a minor top/reversal may be developing. 

Intraday losses below 1.2540 should see USD gains over the past couple of sessions correct a little more (back to 1.2475/85).

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