SEB: USD/CAD to soon take out 1.2835 – eFXnews

FXStreet (Barcelona) - The Technical Strategy Team at SEB, sees upside potential for USD/CAD towards 1.2835 if the pair is able to remain above 1.2675, as noted by eFXnews.

Key Quotes

“Currently parked in what appears to be a contracting range, a bull triangle, we are looking for returning buyers ahead of 1.2675 (if breaking below an extended correction will unfold). A new attempt to stretch out for (and break) the 1.2835 key resistance should thereafter follow. Once the resistance has been cleared the pair should be aiming at our long term target range, 1.3066 – 1.3426.”

This content has been provided under specific arrangement with eFXnews.