USD/CAD is trading above the 1.2800 level. The pair is set to extend its advance towards the 1.2950/1.3020 neighborhood, in the view of economists at Société Générale.

USD/CAD points higher while above 1.2600

“Daily MACD has entered positive territory which points towards further upside.”

“The pair is expected to revisit the graphical hurdle of 1.2950/1.3020 consisting of August peak. If this is overcome, an extended up-move could take shape.”

“Defending 1.2600 will be crucial for continuation in rebound.”

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This article was originally published by Fxstreet.com.Read the original article here.

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