USD/CAD has shifted into a near-term range after staying capped at the key 1.3153/67 resistance level, according to strategists at Credit Suisse. The loonie is trading near daily highs around the 1.3140 mark as of writing. Key quotes “The rebound higher in USD/CAD remains capped by the 23.6% retracement the fall from June, price resistance and March downtrend at 1.3153/67, with the market now shifting into a near-term range.” “Support moves initially to 1.3076, but with a break below 1.3038 needed to reassert a bearish bias again for a fall back to 1.2994, then medium-term support at 1.2952. Beneath here would suggest we are seeing the formation of a significant and long-lasting top, with support seen next at the downward sloping trendline from February 2019, currently seen at 1.2863, with the 78.6% retracement of the 2017/2020 bull trend seen at 1.2620.” “Above 1.3153/67 would see the downtrend break to suggest a more important low is already in place with resistance seen next at 1.3205, then the late August high at 1.3245.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fitch Ratings cuts long-term oil price assumptions FX Street 3 years USD/CAD has shifted into a near-term range after staying capped at the key 1.3153/67 resistance level, according to strategists at Credit Suisse. The loonie is trading near daily highs around the 1.3140 mark as of writing. Key quotes “The rebound higher in USD/CAD remains capped by the 23.6% retracement the fall from June, price resistance and March downtrend at 1.3153/67, with the market now shifting into a near-term range.” “Support moves initially to 1.3076, but with a break below 1.3038 needed to reassert a bearish bias again for a fall back to 1.2994, then medium-term support at 1.2952. Beneath here… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
