USD/CAD Technical Analysis: Banks Monitor Established Range in Upper 1.35s
Wednesday, 18 September 2024, 04:46
Current USD/CAD Dynamics
The Canadian Dollar (CAD) maintains a position just below the 1.36 threshold, as analysts from Scotiabank highlight the significance of this consolidation level. Market participants are closely monitoring shifts in policy from the Federal Reserve, with implications for the USD/CAD exchange rate.
Key Technical Indicators
- Break levels around 1.36
- Recent performance in the upper 1.35s
- Influence of bank forecasts
Market Outlook
As traders await updates from the Fed, the focus is on how these decisions may shape future USD/CAD movements. A cautious approach is evident as banks continue to assess the prevailing market sentiment.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.