CAD: Move above 1.2660 would likely clarify the technical tone - BBH

Sandeep Kanihama FXStreet Contributor

US dollar snapped a two-week advance against the Canadian dollar, but the loss was minor (-0.20%), and the key technical development was constructive for the greenback, points out the research team at BBH.

Key Quotes

“It recorded an outside up day against the Canadian dollar, closing above the previous day's high. A move above CAD1.2660 would likely clarify the technical tone in favor of the greenback and suggest a return to CAD1.29. Support is seen near CAD1.2450.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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