USD/CAD: There is not really much evidence of a reversal in intraday/daily chart patterns – Scotiabank

Loonie makes marginal headway after the 1.3660 test. Economists at Scotiabank analyze USD/CAD technical picture.

Break below 1.3560 should see losses extend a bit further toward 1.3520/25

“Short-term trading patterns look a bit soft for USD/CAD as the market backs a bit further away from technical resistance at 1.3660. But there is not really much evidence of a reversal in intraday/daily chart patterns at this point.”

“Intraday trend support at 1.3560 is within reach, however, and a break below here should see USD losses extend a bit further towards moving average support clustered around 1.3520/25.”