fxstreet.com 10 Feb, 2021 11:00 am

Clear close beneath 1.2686/82 to suggest further weakness – Credit Suisse

Clear close beneath 1.2686/82 to suggest further weakness – Credit Suisse
USD/CAD continues to deteriorate as the pair closed beneath the late January low at 1.2738 on Tuesday. A sustained close beneath 1.2686/82 would see t

USD/CAD continues to deteriorate as the pair closed beneath the late January low at 1.See – USD/CAD: BoC's QE tapering in spring to support the Canadian dollar – NBF Key quotes “USD/CAD continues to deteriorate, further increasing the probability that the corrective upswing has already come to an end and questioning the ‘wedge’ base (supported by daily MACD momentum also about to turn lower).2686/82 would see the “wedge” base negated, with support seen thereafter at 1.2686/82 would see the base negated and suggest that further downside is likely, with support seen thereafter at the back of the December 2020 downtrend, currently at 1.

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