• USD/CAD: Defence of 1.3410 can lead to persistence in rebound towards 1.3620 – SocGen

Noticias del mercado

20 febrero 2024

USD/CAD: Defence of 1.3410 can lead to persistence in rebound towards 1.3620 – SocGen

Canada’s CPI is the highlight of a quiet G10 calendar today. Economists at Société Générale analyze USD/CAD’s technical outlook ahead of inflation figures. 

Recent pivot low near 1.3410 is near-term support

USD/CAD has embarked on a series of higher peaks and troughs in daily timeframe chart after carving out a low near 1.3180 in December. The pair has gradually established above flattish 200-DMA denoting possibility of continuation in up move. 

Recent pivot low near 1.3410 is near-term support. Defence of this can lead to persistence in rebound towards 1.3620, the 61.8% retracement from last November and projections of 1.3730.

 

Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Abrir cuenta demo y página personal
Entiendo y acepto la Política de Privacidad y estoy de acuerdo con que mi nombre y datos de contacto sean procesados por TeleTrade y utilizados para contactarme en lo referente a: