USD/CAD: Potential for a continued decline to 1.2890 – Goldman Sachs

Analysts at Goldman Sachs offer key technical levels for trading the USD/CAD pair in the coming days.

Key Quotes:

“The next interim support is down at 1.30-1.2974; includes the April uptrend as well as a 1.618 extension target.

There are a few technical resistance levels down to 1.2890 but believe there is scope for a decline.

Consider selling into 1.3282 no higher than 1.3350. Confidence below 1.3206. Next in focus 1.3120. Scope to retrace between 1.30 and 1.2878."