USD/CAD continues to hover around the pivotal May 2018 low at 1.2730, but the overall core downtrend remains intact, with next major support at 1.2620, analysts at Credit Suisse report. Key quotes “With short-term momentum waning, further near-term sideways trading is likely at first. Post this consolidation, we remain biased lower over the medium-term, as a large ‘head and shoulders’ top still in place.” “Support is seen initially at 1.2700/1.2699, then back at 1.2688, removal of which should see a move back to the 78.6% retracement of the 2017/2020 surge at 1.2620, where we would expect to see fresh buyers at first.” “Resistance moves initially to 1.2772, then 1.2790/93, where we would expect a first attempt to hold. Beyond here can see a move back to 1.2829/33, removal of which could see a move back to 1.2874/81, where we expect to see another attempt to cap.” 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 EUR/USD: Euro’s three boosters fuels it above 1.22 FX Street 2 years USD/CAD continues to hover around the pivotal May 2018 low at 1.2730, but the overall core downtrend remains intact, with next major support at 1.2620, analysts at Credit Suisse report. Key quotes “With short-term momentum waning, further near-term sideways trading is likely at first. Post this consolidation, we remain biased lower over the medium-term, as a large ‘head and shoulders’ top still in place.” “Support is seen initially at 1.2700/1.2699, then back at 1.2688, removal of which should see a move back to the 78.6% retracement of the 2017/2020 surge at 1.2620, where we would expect to see fresh buyers… 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.
