28 Nov 2014
SEB: USD/CAD contesting resistance around 1.14 – eFXnews
FXStreet (Barcelona) - The eFXnews team notes SEB anticipates the USD/CAD pair to move towards 1.16/17 levels if it breaks through the resistance at 1.1466.
Key Quotes
“The earlier correctional decline seems to be over (and it was a little bit of a surprise it had to go all the way down to the short-term 78.6% Fibo retracement candle before bottoming out). Yesterday's clear-cut bullish candle points higher and into a nearby zone of resistance around the 1.14-mark. A constructive break through this resistance would turn attention to the recent 1.1466 high and beyond this point towards a medium- long-term 1.16/17 attraction.”
This content has been provided under specific arrangement with eFXnews
Key Quotes
“The earlier correctional decline seems to be over (and it was a little bit of a surprise it had to go all the way down to the short-term 78.6% Fibo retracement candle before bottoming out). Yesterday's clear-cut bullish candle points higher and into a nearby zone of resistance around the 1.14-mark. A constructive break through this resistance would turn attention to the recent 1.1466 high and beyond this point towards a medium- long-term 1.16/17 attraction.”
This content has been provided under specific arrangement with eFXnews