USD/CAD: The pair shot up through triangle, remain bullish (Credit Suisse)

Credit Suisse signals the breaking of a triangle on the USD/CAD and recommends buying dips.

"USD/CAD has been locked within a triangle range since April. However, it has now broken its range and risen above key resistance at 1.3140 / 89.

With oil prices expected to fall further within a new range, we now expect a further rise towards 1.3297.

A bigger obstacle is expected at 1.3312 / 15, which should initially block pair's progression. However, we believe that progress will continue towards 1.3448, then 1.3575. We then expect a ceiling at around 1.3839 / 93.

A support level comes at 1.3097 / 94, and moving averages are at 1.3007 and 1.2959.