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Approaching The 20-Day EMA

USDCAD TECHS
  • RES 4: 1.3338 38.2% of the 2020 - 2021 bear leg
  • RES 3: 1.3192 1.00 proj of the Apr 5 - May 12 - Jun 8 price swing
  • RES 2: 1.3113 High Nov 23 2020
  • RES 1: 1.3079 High May 17 and a bull trigger
  • PRICE: 1.2880 @ 16:39 BST Jun 27
  • SUP 1: 1.2856 20-day EMA
  • SUP 2: 1.2795 50-day EMA
  • SUP 3: 1.2681 Low Jun 10
  • SUP 4: 1.2518 Low Jun 8 and key support

The USDCAD outlook is bullish however price action is weaker as the pair pulls away from its recent highs. Short-term pullbacks are considered corrective. Recent gains resulted in a break of 1.3000 and delivered a print above key resistance at 1.3077, the May 16 high and a bull trigger. A clear breach of 1.3077 would confirm a resumption of the uptrend and open 1.3113, Nov 23 2020 high. Initial firm support is at 1.2856, the 20-day EMA.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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