The Canadian dollar (CAD) is traded against the US dollar (USD) and expands its recent consolidation around a cluster of key technical levels, the main strategist FX Shaun Osborne and Eric Theoret notes Scotiabank.
Spread and sentiment are neutral
“The main risk lies on view For the relative policy of the central bank, as market participants focus on the speech of the Governor of Boc Rogers at 8:15 in the morning. Yield spread They are stable and offer little in terms of direction, while the options market remains neutral and reversal of risks holds close to the apartment. ”
“Our USD/CAD estimate is currently at $ 1,3744, which is currently indicated by a significant undervaluation of CAD. The last USD/CAD consolidation is remarkable, with overloading around 61.8% of the retraction level in September 2024/February 2025 on 1.3944.”
“Resistance was observed on 200 days MA (1.3978), just below the psychologically important level of 1.40. Weakness below 1.3900 would probably focus on 50 days at 1.3835. We are looking for a short -term range bound between 1.3920 and 1.3980.”
