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Mar 04 - 09:55 AM

USD/CAD: Make Or Break At 1.2730/49 - Credit Suisse

By eFXdata  —  Mar 04 - 08:36 AM

Credit Suisse discusses USD/CAD technical outlook and highlights the importance of the 1.2730/49 level for near-term directional bias.

"We continue to look for 1.2730/49 to ideally cap and see support initially at 1.2625, removal of which would ease the recent upside pressure. Below here can see 1.2587 next, beneath which would negate the small base and see a move back to the current low for the year at 1.2468, just shy of the mid -February 2018 low at 1.2452, where a more concerted effort to hold is expected to maintain a new range," CS noes.

"Above 1.2749 would suggest an even deeper correction higher than expected and reassert the prior range, with resistance initially seen at 1.2763/66," CS adds. 

Credit Suisse Research/Market Commentary


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