- Analytics
- News and Tools
- Market News
- USD/CAD: Near-term setback higher faces resistance at 1.2741/46 - Credit Suisse
USD/CAD: Near-term setback higher faces resistance at 1.2741/46 - Credit Suisse
FXStreet reports that analysts at Credit Suisse note that the USD/CAD pair has not managed to follow through on the downside, completing a bullish “hammer” to suggest near-term upside, with resistance at 1.2741/46.
“USD/CAD has not managed to see a close beneath the crucial 1.2686/82 level, reverting back higher and completing a small bullish ‘hammer’ to suggest further near-term upside.”
“We see room for a move back to key short-term averages at 1.2741/46, with scope for an overshoot to the 55-day average at 1.2770, which then ideally caps for a move back lower. Post this setback higher, we look for weakness to resume and look for an eventual close beneath the crucial 1.2686/82 lows.”
“A clear and sustained close beneath 1.2686/82 would see the prior base negated, with support seen thereafter at the back of the December 2020 downtrend, currently at 1.2640.”
© 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
