Goldman Sachs on USD/CAD
Technical strategists at Goldman Sachs note the fall below the 200-day moving average on Friday and they see the potential for a continued decline to 1.2890.
"The next interim support is down at 1.30-1.2974; includes the April uptrend as well as a 1.618 extension target," they write in a note today.
They warm that 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," they write.