Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CAD loses momentum but bullish setup remains

• USD/CAD initially dipped but regained some ground after U.S. President Donald Trump called for lower interest rates, without offering clarity on tariffs.

• Despite frequently mentioning tariffs, Trump again declined to give specifics of any duties he intends to put in place.

• The greenback fluctuated between gains and losses as Trump urged the world to lower interest rates in a speech to global business and political leaders in Davos.

• At GMT 20:05 the pair was trading down  0.10 percent  at 1.4363.

•  Immediate resistance is located at 1.4411(Daily high), any close above will push the pair towards 1.4500(Psychological level).

• Support is seen at 1.4325(38.2%fib) and break below could take the pair towards 1.4278(Lower BB).

Recommendation: Good to buy  around 1.4330, with stop loss of 1.4250 and target price of 1.4480

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.