The USD/CAD pair is little changed for the session. Scotiabank economists point out that, at the moment, there does not seem to be much desire to move the pair in either direction.
Pretty solid support in the 1.3450 area
“Intraday charts generally indicate further USD selling pressure, but also highlight fairly solid USD support at modest weakness to the 1.3450 area so far.”
“USD gains yesterday challenged the 40-day moving average (1.3509), which held and should now put some downward pressure on funds overall. But there appears to be little real appetite to move USD/CAD in either direction at the moment, which is reflected in flat short-term trend signals.”
“Resistance at 1.3475/00. Support at 1.3440/50.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
