forex_managed_account_1

USD/CAD: Break of 1.3165 allows 1.3460 - SocGen

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    The Technical Analysis Team at Societe Generale sees evidence of the pair heading towards 1.3165, with a break opening up the prospects for a target of 1.3460.

    Key Quotes

    "USD/CAD is showing a recovery after testing our advocated support of 1.30/1.2850, the 61.8% retracement of up move since last May and more importantly the confirmation level of the larger double bottom."

    "With daily indicators rebounding from a floor, the pair appears to head towards 1.3165. A break above will mean possibility of retesting graphical levels at 1.3460. This will remain an important hurdle near term."
    For more information, read our latest forex news.
     

Share This Page

free forex signals