- Analytics
- News and Tools
- Market News
- USD/CAD: Break above 1.2514 to turn the risk to the upside – Credit Suisse
USD/CAD: Break above 1.2514 to turn the risk to the upside – Credit Suisse
FXStreet reports that the Credit Suisse analyst team discusses USD/CAD prospects.
“USD/CAD surged higher on Tuesday, breaking above minor resistance at 1.2451 to increase the risk of a larger basing structure. So far, the pair is once again stalling at key resistance at 1.2487/2514, which also capped the market back in June.”
“With daily MACD staying outright bullish and the market maintaining its break above the 55-day average though, we look for a break above here to open up a move to the major cluster of resistances at 1.2639/56, which includes the 200-day average, a long term retracement level and a cluster of price highs. It’s worth highlighting that a break above here would complete a major base to turn the broader risks higher.”
© 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
