The USD / CAD yesterday rejected another probe, its third, under 1.39. TD Securities analysts are once again heavy, but technically, the charts point to a descending triangle. Credit Suisse also points to higher USD / CAD levels.
“Although an interruption in support around 1.3850 may be significant, we have not yet heard an argument as to why you would want to own CAD.”
“With stocks at their highest post-crash and USD / CAD trading where it is, a lot of good news is in the price – whatever good news that may be.”
“We remain focused on the upside risks overall. We believe 1.3970 / 00 will be the first noticeable upper threshold for the pair, which will focus on resisting the daily downtrend of 1.4050 / 80. “