USD/CAD: Next potential objectives located at 1.4040 and 1.4210 – SocGen

USD/CAD is trading above 1.3750 ahead of the Canadian Consumer Price Index (CPI) report. Economists at Société Générale expect the pair to target 1.4040 and then 1.4210.

1.3500 should provide support

“Weekly MACD is firmly anchored within positive territory denoting prevalence of upward momentum.”

“Currently a pause is underway however 1.3500, the 23.6% retracement from 2021 should provide support.”

“Next potential objectives are located at projections of 1.4040 and 1.4210.”

See – USD/CAD: Risks appear slightly skewed to the upside for loonie today – ING