USD/CAD: A net loss today is needed to support a stall/reversal signal – Scotiabank

USD/CAD is little changed on the day. Economists at Scotiabank analyze the pair’s technical outlook.

Short-term USD trends remain positive

Short-term USD trends remain positive, with no evident signs of weakness in the intraday patterns. USD gains are starting to look a little stretched from a short-term point of view, however, and the daily candle chart does show a potential stalling signal developed Thursday – right on noted (major) resistance at 1.3375. 

A net loss for the USD today is needed to support a stall/reversal signal. 

Intraday support is 1.3325/30.