USD/CAD: To face a deeper pullback below 1.3580 – Societe Generale
Source Fxstreet
The USD/CAD pair looks poised to inch higher towards descending trend line drawn since April near 1.3755, Societe Generale FX analysts note.
Inches higher towards 1.3755
“USD/CAD recently defended the trough of May near 1.3580 which is also the 200-DMA. A rebound has materialized after this test; the pair looks poised to inch higher towards descending trend line drawn since April near 1.3755.”
“Graphical levels of 1.3850/1.3900 representing the upper limit of the range since 2022 is an important resistance zone. In case the pair breaks below 1.3580, there would be risk of a deeper pullback.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
After a turbulent 2025, what lies ahead for commodities, forex, and cryptocurrency markets in 2026?
WTI slumps to near $64.00 on oversupply concerns and strong Dollar, Iran tensions limit lossesWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.00 during the early European trading hours on Friday. The WTI price falls after hitting its highest since late September as oversupply concerns weigh on the price.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.00 during the early European trading hours on Friday. The WTI price falls after hitting its highest since late September as oversupply concerns weigh on the price.
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Bitcoin’s two-year rolling MVRV z-score has dropped to its lowest level ever, pointing to extreme undervaluation.
Related Instrument
