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17 Apr 2015
USD/CAD correction might extend to 1.20 – SG
FXStreet (Barcelona) - Technical Analysts at Societe Generale, note that technicals suggest USD/CAD correction might extend further towards 1.20 levels.
Key Quotes
“USD/CAD has violated a two month consolidation zone and the (nearly) horizontal support of 1.24. It has confirmed a head and- shoulder pattern. With the daily RSI breaching a horizontal support, the corrective move should extend further towards 1.22 and even 1.20, the monthly channel limit.”
Key Quotes
“USD/CAD has violated a two month consolidation zone and the (nearly) horizontal support of 1.24. It has confirmed a head and- shoulder pattern. With the daily RSI breaching a horizontal support, the corrective move should extend further towards 1.22 and even 1.20, the monthly channel limit.”