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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.
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Free Access50-Day EMA Provides Support
- RES 4: 1.2976 1.00 proj of the Jun 23 - Jul 19 - 30 price swing
- RES 3: 1.2957 High Dec 21, 2020
- RES 2: 1.2949 High Aug 20 and the bull trigger
- RES 1: 1.2796/2896 High Sep 23 / High Sep 20
- PRICE: 1.2675 @ 06:50 BST Sep 29
- SUP 1: 1.2594/83 Low Sep 28 / Low Sep 10
- SUP 2: 1.2494 Low Sep 3 and the bear trigger
- SUP 3: 1.2422 Jul 30 low and a key support
- SUP 4: 1.2367 61.8% retracement of the Jun - Aug rally
Recent weakness in USDCAD appears to have found some support just below the 50-day EMA. A bullish trend structure remains intact and the recent pullback is considered corrective. A clear break of the 50-day EMA - at 1.2613 today - would signal scope for a deeper pullback and expose 1.2494, the Sep 3 low. For bulls, a reversal higher and a resumption of gains would again open key resistance at 1.2949, Aug 20 high. This is the bull trigger.
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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.