Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CAD loses momentum but outlook is bullish

• USD/CAD eased slightly on Monday as investors anxiously awaited U.S. consumer price index reading.

• Economists project a median annual increase of 2.9%, up from 2.7% in November, along with a monthly rise of 0.3%.

• Investors are concerned that U.S. President-elect Donald Trump's policies on tariffs, migration, and taxes could drive inflation higher.

• At GMT 16:03, the pair was up 0.16% at 1.4395, the pair hit daily high at 1.4446.

•  Immediate resistance is located at 1.4463(23.6%fib), any close above will push the pair towards 1.4484(Higher BB).

• Support is seen at 1.4359(38.2%fib) and break below could take the pair towards 1.4286(50%fib).

Recommendation: Good to buy  around 1.4380, with stop loss of 1.4300 and target price of 1.4500

  • Market Data
Close

Welcome to EconoTimes

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