Free Trial

Conditions Remain Bullish

USDCAD TECHS
  • RES 4: 1.2964 High Dec 20 2021
  • RES 3: 1.2901 High Mar 8 and a key resistance
  • RES 2: 1.2871/89 High Mar 15 / 2.0% 10-dma envelope
  • RES 1: 1.2854 High Apr 27
  • PRICE: 1.2817 @ 17:17 BST Apr 27
  • SUP 1: 1.2634 50-day EMA
  • SUP 2: 1.2568 Low Apr 22
  • SUP 3: 1.2459 Low Apr 21
  • SUP 4: 1.2403 Low Apr 5 and a key support

USDCAD inched higher still Wednesday. The recent break of 1.2676, the Apr 13 high, and the subsequent follow through strengthens a bullish condition. The focus is on 1.2871 next, the Mar 15 high and the next key resistance at 1.2901, the Mar 8 high. On the downside, last Friday’s 1.2568 low is seen as a firm short-term support. Initial support is at 1.2634, the 50-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.