- Analytics
- News and Tools
- Market News
- USD/CAD: Phase of decline could extend on failure to reclaim 1.3350/1.3380 – SocGen
USD/CAD: Phase of decline could extend on failure to reclaim 1.3350/1.3380 – SocGen
Economists at Société Générale analyze USD/CAD technical outlook.
Possibility of a deeper pullback
USD/CAD has breached the lower limit of the broad consolidation within which it evolved since October last year. The break highlights possibility of a deeper pullback.
If the pair struggles to reclaim the multi-month ascending trend line at 1.3350/1.3380, the phase of decline could extend. Next potential objectives are located at projections of 1.3110 and 1.3000/1.2930, the 50% retracement from 2021.
See: USD/CAD can break below 1.30 as early as this summer – ING
© 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
