USD/CAD to continue its slump on a break below 1.2600 - OCBC

Market news

16 February 2021

USD/CAD to continue its slump on a break below 1.2600 - OCBC

FXStreet notes that the USD/CAD pair breached the 1.2700 support decisively on Monday. Terence Wu, FX Strategists at OCBC Bank, is closely watching the loonie as the 1.2600 level is likely to attract.

“The break below 1.2700 leaves the part edging towards the 1.2600 level, which coincides with the Jan lows. Any further breach should leave the pair open to further downside.”

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