USD/CAD: Rallies are on the cards - Natixis

Rallies are on the cards for USD/CAD pair, as the daily indicators have recovered, towards a resistance at 1.2580-1.2591 (daily parabolic) strong barrier ahead of 1.2647 (weekly Bollinger moving average), suggests Micaella Feldstein, Research Analyst at Natixis.

Key Quotes

“The break of this last barrier would negate the weekly downside parallels, providing fresh bullish impetus and paving the way for a sustained rally to 1.2765-1.2781 (Fibonacci extensions) ahead of 1.2970 (9 month moving average). The supports are at 1.2461-1.2470, at 1.24-1.2420, at 1.2318-1.2334 and at 1.2120.”