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4 Feb 2015
USD/CAD may test 1.26 this week - FXStreet
FXStreet (Barcelona) - According to FXStreet Editor and Analyst, Omkar Godbole, USD/CAD is likely to test 1.26 levels this week, expecting WTI’s fall to trigger the bullish move.
Key Quotes
“On technical grounds, the pair has recovered from the low of 1.2350 seen in the previous session to trade at 1.2436 levels.”
“Given the strong inverse correlation with the WTI Crude, the USD/CAD pair is likely to test 1.26 levels as WTI Crude falls below the 560-DMA located at USD 51.46/barrel.”
“A rise anticipated at the current level of 1.2436 provides an attractive risk reward ratio with a recent cycylical low located at 1.2350 levels.”
Key Quotes
“On technical grounds, the pair has recovered from the low of 1.2350 seen in the previous session to trade at 1.2436 levels.”
“Given the strong inverse correlation with the WTI Crude, the USD/CAD pair is likely to test 1.26 levels as WTI Crude falls below the 560-DMA located at USD 51.46/barrel.”
“A rise anticipated at the current level of 1.2436 provides an attractive risk reward ratio with a recent cycylical low located at 1.2350 levels.”