USD/CAD: Scope for a fall to 1.2287 – Credit Suisse USDCAD Banks
“USD/CAD is back under pressure again and given our view that the broader USD is likely to see a deeper correction lower, we stay biased towards a break below 1.2455/31. Thereafter, we would see scope for a fall all the way to the ‘measured top objective’ at 1.2287, where we would look for a hold to define the bottom end of a broad range.”
“First resistance moves to 1.2571/77, then 1.2608/30, which should now cap the pair. A break above here would negate the top and turn the risks back higher within the range.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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