USD/CAD to advance nicely towards 1.4097 – Credit Suisse USDCAD Banks
“Whilst a minor bearish divergence in daily RSI warns of a potentially lengthier correction, the broader uptrend remains strong and with our bullish USD and bearish Brent“Resistance is seen at the highs from last week at 1.3832/38, which we look to be broken to reassert strength and trigger a move to 1.4097 – the 78.6% retracement of the 2020/21 downtrend.”
“We look for support at the recent price lows at 1.3603/01 and then at the 13-day moving average at 1.3560 to try to hold any sharper move lower to prevent a lengthier downside correction.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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