- Analytics
- News and Tools
- Market News
- USD/CAD needs to hold 1.3254 to keep immediate risk higher n-term- Credit Suisse
USD/CAD needs to hold 1.3254 to keep immediate risk higher n-term- Credit Suisse
Credit Suisse discusses USD/CAD technical outlook and maintains a tactical bullish bias against a move below 1.354 in the near-term.
"USDCAD remains capped as expected at resistance from the downtrend from June and the retreat from here turns the spotlight back to the low from the end of last week and 13-day average at 1.3254. This needs to hold to suggest the immediate risk stays higher with resistance seen at 1.3319/28. Above here can see the downtrend conclusively broken with resistance then seen next at the 1.3347/48 October highs. Beyond here though is needed to suggest we are seeing a more important turn higher with resistance then seen next at the 1.3383 September high, before the 61.8% retracement of the 2018/19 downleg at 1.3417. Below 1.3254 would remove upside pressure and turn the risks back lower within the range, with support then at the 38.2% retracement of the October/November rally and 55-day average at 1.3219/13," CS adds.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
