USD/CAD rebounds off 200-DMA – Société Générale
Source Fxstreet
USD/CAD has regained momentum after defending major technical supports, with the pair now eyeing channel resistance near 1.4150 and higher projections toward 1.4240–1.4300, Société Générale's FX analysts note, Société Générale's FX analysts note.
Pair approaches key channel resistance at 1.4150
"USD/CAD has bounced after defending the 200-day moving average and the upper boundary of the previous range near 1.3930/1.3900 in October. It is in proximity to the upper limit of an ascending channel at 1.4150, which could be an interim hurdle."
"If a brief pullback develops, the low achieved this week near 1.4000 could provide support. Next projections are located at 1.4240/1.4300."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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