#USDCAD @ 1.34293 could remain rangebound roughly within 1.3230 and 1.3660/1.3700 – SocGen
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USD/CAD struggles for a firm direction stuck in a range around 1.34. Price action could remain rangebound, economists at Société Générale report.
“A clear direction is lacking as highlighted by crisscross moves around the 50DMA. The price action could remain rangebound roughly within limits of 1.3230 and 1.3660/1.3700. Reclaiming the upper end of this consolidation can lead to resumption in uptrend.”
“In case a deeper decline materializes, graphical levels of 1.3000/1.2950 should be a significant support zone.”
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