USD/CAD has regained momentum after defending main technical helps, with the pair now eyeing channel resistance close to 1.4150 and better projections towards 1.4240–1.4300, Société Générale’s FX analysts word, Société Générale’s FX analysts word.
Pair approaches key channel resistance at 1.4150
“USD/CAD has bounced after defending the 200-day shifting common and the higher boundary of the earlier vary close to 1.3930/1.3900 in October. It’s in proximity to the higher restrict of an ascending channel at 1.4150, which might be an interim hurdle.”
“If a quick pullback develops, the low achieved this week close to 1.4000 might present assist. Subsequent projections are situated at 1.4240/1.4300.”
