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Tops Resistance

USDCAD TECHS
  • RES 4: 1.2871 High Mar 15
  • RES 3: 1.2786 76.4% retracement of the Mar 8 - Apr 5 bear leg
  • RES 2: 1.2734 1.0% 10-dma envelope
  • RES 1: 1.2724 High Apr 22
  • PRICE: 1.2716 @ 16:58 BST Apr 22
  • SUP 1: 1.2568/2459 Intraday low / Low Apr 21
  • SUP 2: 1.2403 Low Apr 5 and a key support
  • SUP 3: 1.2387 Low Nov 10 2021
  • SUP 4: 1.2328 Low Oct 29 2021

USDCAD price action topped the upside directional trigger Friday at 1.2676, Apr 13 high, turning the near-term focus higher. This exposes vol band resistance at 1.2734 initially ahead of 1.2786, the 76.4% retracement of the Mar 8 - Apr 5 bear leg. A reversal lower would instead refocus attention on support at 1.2459, where a break would reinstate a bearish theme.

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  • RES 4: 1.2871 High Mar 15
  • RES 3: 1.2786 76.4% retracement of the Mar 8 - Apr 5 bear leg
  • RES 2: 1.2734 1.0% 10-dma envelope
  • RES 1: 1.2724 High Apr 22
  • PRICE: 1.2716 @ 16:58 BST Apr 22
  • SUP 1: 1.2568/2459 Intraday low / Low Apr 21
  • SUP 2: 1.2403 Low Apr 5 and a key support
  • SUP 3: 1.2387 Low Nov 10 2021
  • SUP 4: 1.2328 Low Oct 29 2021

USDCAD price action topped the upside directional trigger Friday at 1.2676, Apr 13 high, turning the near-term focus higher. This exposes vol band resistance at 1.2734 initially ahead of 1.2786, the 76.4% retracement of the Mar 8 - Apr 5 bear leg. A reversal lower would instead refocus attention on support at 1.2459, where a break would reinstate a bearish theme.