USD/CAD: A renewed rebound back higher towards the resistance at 1.4114 – Credit Suisse
|USD/CAD holds in its range, above the pivotal support seen at 1.3856/3793, after posting a potentially bullish ‘hammer’ candlestick on Tuesday, per Credit Suisse.
Key quotes
“We look for a renewed swing higher within the range, with resistance initially seen at 1.3961/70, then 1.4080/89, ahead of 1.4114/17. Above here would see resistance back at 1.4141/47, ahead of 1.4173.”
“A clear and conclusive break below 1.3793 would turn the short-term risk back lower and see weakness extend further, with support seen at 1.3734 next.”
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