USD/CAD: Sell the rallies to 1.3300 – Natixis

Analysts at Natixis offer strategies for trading USD/CAD in short to medium-term.

Key Quotes:

“Rallies are not ruled out but we expect the 1.3310 barrier (weekly Bollinger moving average) to halt the upside.”

“The weak volatility on the daily chart and also on the weekly chart should indeed prevent the cross from rallying lastly.”

“We recommend, against this backdrop, to keep a lookout at the supports at 1.3039-1.3053 (rising trend line) all the more so as sell signals are intact on the weekly indicators.”

“A break of these thresholds would pave the way for a sustained decline to 1.2780- 1.28 (Fibonacci extensions) and 1.2612 (quarterly parabolic). “

“The resistances are at 1.3188, at 1.3240, at 1.3310, at 1.3390, at 1.3463 and at 1.3597-1.3613.”