USD/CAD to see further gains on a clear brech of 1.2900 – OCBC

The USD/CAD found no traction above 1.2900. The pair needs to see a sustained break above this level to enjoy further gains, economists at OCBC Bank.

Initial support seen at 1.2800

“Upward stance may be retained, but the near-term resistance zone of 1.2850 to 1.2900 needs to be meaningfully breached.”

“Immediate support at 1.2800.”