USD/CAD to push higher towards 1.33 on a break past May high of 1.3077 – Scotiabank

The Canadian dollar ended the week on the defensive. The pair could climb as high as 1.33 on a break above the May high of 1.3077, economists at Scotiabank report.

Key support seen at 1.2865

“USD/CAD gains Friday through 1.2995/00 target a further push on to retest the May high at 1.3077; beyond here and the USD risks pushing on to the 1.33 zone.”

 “Key support for this week is 1.2865 – which may remain out of range for now.”