USD/CAD: a test of 1.42/1.44 appears likely – Scotiabank

By FXStreet Currency Strategist at Scotiabank Eric Theoret sees the possibility of re-visit to the 1.42/1.44 area in the near term.

Key Quotes

“USDCAD remains in corrective mode (higher) aŌer last week’s rebound from 1.3640”.

“Gains through 1.3930 in the past 24 hours should facilitate a fairly sizeable retracement of the 1.47/1.36 drop seen through late January”.

“We are aiming for a push higher to the 1.42/1.44 range in the next few weeks before upside pressure moderates”.
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Source:: FX Street