Scotiabank: The USD/CAD upward resistance is at 1.3000/50;
1)Scotiabank's foreign exchange strategist said that the USD/CAD future upside should encounter strong resistance in the 1.3000/50 area.
2)The USD/CAD seems to be well supported, as the exchange rate was decisively reversal at the low near 1.28 last week ;
3)last week's low was roughly in line with the low in late August, suggesting a double bottom. Recent resistance is expected to be at an important psychological level of 1.3000, followed by a level of 1.3050. The recent support is expected to be between 1.2920-1.2900
