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- USD/CAD must overpower the 1.2650/1.2735 region for next leg of uptrend - Société Générale
USD/CAD must overpower the 1.2650/1.2735 region for next leg of uptrend - Société Générale
FXStreet reports that economists at Société Générale note that USD/CAD is hovering around 1.25 and needs to surpass the 1.2650/1.2735 neighborhood to extend its rise.
“USD/CAD is heading gradually towards 1.2650/1.2735 representing the 200-DMA. This hurdle must be overpowered for the next leg of uptrend. A pause could develop after reaching these levels; 1.2360 and lower limit of an ascending channel at 1.2250 are short-term support levels.”
“A break beyond 1.2650/1.2735 will affirm a larger up move towards 1.2840 and graphical hurdle of 1.2950/1.3030.”
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