USD/CAD to head higher towards 1.27 on a weekly close above 1.2650 – Scotiabank

The strong USD is hitting the CAD with a 0.8% loss on the day to trade into the high-1.26s. A weekly above above 1.2650 would signal further gains ahead to a test of the 1.27 level, economists at Scotiabank report.

Support after the mid-1.26s is the big figure

“A close above the 1.2650 mark for the week would signal further gains ahead to a test of the 1.27 level in the coming days.”

“Support after the mid-1.26s is the big figure.”