- Analytics
- News and Tools
- Market News
- USD/CAD loses the key 1.2365 support, next stop at 1.2256/61 - Credit Suisse
USD/CAD loses the key 1.2365 support, next stop at 1.2256/61 - Credit Suisse
FXStreet reports that the USD/CAD pair has seen a clear break below the 1.2365 low, further reinforcing the Credit Suisse analyst team’s bearish outlook. The next major support is at 1.2256/51.
“USD/CAD has seen a very sharp fall below important support at the 1.2365 2021 low, in line with the large bearish ‘outside day’ and recent bearish cross lower in daily MACD momentum.”
“We stay bearish, with the next major support below here seen at a major corrective price low at 1.2256/51, which is similarly expected to prove a tough initial barrier. Nevertheless, with a major long-term top in place, we still see scope for an eventual move to 1.2062, the 2017 low.”
© 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
