18 May 2015
USD/CAD further upside expected above 1.2100/10 – BBH
FXStreet (Edinburgh) - The research team at BBH sees a break above the 1.2100/10 band as a potential sign for further upside.
Key Quotes
“The Canadian dollar is benefiting from the weaker general tone for the US dollar”.
“Technical indicators like the RSI and MACDs are set to turn in the greenback's favor but have yet done so”.
“A move above $1.2100-10 should be respected as suggesting down move is exhausted”.
“The US dollar has not distanced itself from the CAD1.20 area, which corresponds to its 38.2% retracement objective of the slide that began last year”.
“A break of CAD1.1950 may encourage near-term participants to look for the 50% retracement that is found near CAD1.1730. The 200-day moving average is near CAD1.1770”.
Key Quotes
“The Canadian dollar is benefiting from the weaker general tone for the US dollar”.
“Technical indicators like the RSI and MACDs are set to turn in the greenback's favor but have yet done so”.
“A move above $1.2100-10 should be respected as suggesting down move is exhausted”.
“The US dollar has not distanced itself from the CAD1.20 area, which corresponds to its 38.2% retracement objective of the slide that began last year”.
“A break of CAD1.1950 may encourage near-term participants to look for the 50% retracement that is found near CAD1.1730. The 200-day moving average is near CAD1.1770”.