USD/CAD could be forming a very large bullish “triangle” continuation pattern – Credit Suisse
|Economists at Credit Suisse analyze USD/CAD technical outlook.
Key support is seen at 1.3301
“USD/CAD continues to trade in the middle of its range, but in our view, the price action looks like a clear potential bullish ‘triangle’ continuation pattern, which reinforces our broader USD bullish view.”
“Next key resistance is seen at 1.3670, then 1.3864, above which would definitively confirm the “triangle” to open up a move to 1.3978/4000 next, then 1.4099.”
“Key support is seen at 1.3301, which needs to hold to maintain the bull ‘triangle’ potential.”
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. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.