USDCAD: A dip towards 1.3370/1.3330 is on the cards – SocGen USDCAD Banks
USDCAD could sustain losses in the near term, according to economists at Société Générale. The pair may test the 1.3370/1.3330 region.“USDCAD faced interim resistance near 1.3980 last month and has evolved within a Head and Shoulders. This formation points towards possibility of a breather and short-term downside.”
“Overcoming right shoulder levels near 1.3810 would be essential to negate the pattern and affirm next leg of uptrend.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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