- Analytics
- News and Tools
- Market News
- USD/CAD: Support at 1.2638/32 to hold on a closing for strength back to 1.2813/15 – Credit Suisse
USD/CAD: Support at 1.2638/32 to hold on a closing for strength back to 1.2813/15 – Credit Suisse
USD/CAD completed a bullish “key reversal day” on Thursday. Analysts at Credit Suisse expect the pair to see further gains towards the 1.2813/15 highs.
Upside bias while above 1.2638/32
“Resistance is seen at 1.2788 initially, above which should see strength back to the 1.2813/15 highs. Above here can add momentum to the rally, with resistance then seen next at 1.2848/54 and eventually back at the 1.2952/64 December high, which may prove a tough barrier again.”
“Support at 1.2638/32 now needs to hold to maintain an immediate upside bias in the broader range. Below can see a retreat back to 1.2581, but with 1.2560/54 ideally holding. More important support though is still seen at the 200-day average and uptrend at 1.2526/07.”
© 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
