USD/CAD’s rebound from the low 1.26 area looks poised to extend somewhat. Economists at Scotiabank expect the pair to reach the 1.28 neighborhood.
Support is seen at the 1.2725 mark
“The steady bid for the USD looks set to probe the upper 1.27s/low 1.28s.”
“We now expect better resistance to emerge around the 1.28 zone where USD gains have tended to falter this year.”
“Intraday support is 1.2725.”