STO Technical - USD/CAD poised to jump higher?

Wednesday, 22/02/2017 | 07:46 GMT

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USD/CAD could be lining up a break beyond the 200 day moving average, opening the way for a return to last month’s highs around the 38.2% retracement of the sell-off from early last year. Look for support around 1.30

Cable continues to struggle with the 1.25 handle. A sustained break above here will open the way for a move up to February highs in the 1.2550-1.2570 range, then 1.2660. On the downside, look for support at recent lows around 1.2400.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/usdcad-poised-to-jump-higher

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