External broker reports(aggregated public sources), Scotiabank

Scotiabank

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

FX & Rates

<ul><li>USDCAD technical signals have felt a little redundant amid the uncertainty and volatility of the past couple of months.</li><li>With the benefit of hindsight, however, the sharp swings in spot in February and into early March did develop meaningful, bearish (weekly and monthly) reversal signals for the USD around spot’s brief push to near 1.48 (close to where previous USD spikes flamed out in 2016 and 2020).</li><li>USD losses have corrected more than 2/3 of the USD rally seen over the past few months, with spot consolidating a little above the 76.4% Fibonacci retracement (1.3744) over the past week. Note a broad band of congestion on the daily chart also sits between 1.3575/1.3775. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

USDCAD technical signals have felt a little redundant amid the uncertainty and volatility of the past couple of months.With the benefit of hindsight, however, the sharp swings in spot in February and into early March did develop meaningful, bearish (weekly and monthly) reversal signals for the USD around spot’s brief push to near 1.48 (close to where previous USD spikes flamed out in 2016 and 2020).USD losses have corrected more than 2/3 of the USD rally seen over the past few months, with spot consolidating a little above the 76.4% Fibonacci retracement (1.3744) over the past week. Note a broad band of congestion on the daily chart also sits between 1.3575/1.3775. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CAD

CAD Technical Overview