© 1982-2022 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial
CORN TECHS

(Z2) Bearish Following Breach Of Key Support

PIPELINE

$16.75B Priced Tue-Thu

US TSYS

Eurodollar/SOFR/Tsy Option Roundup

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Topics

Approaching Its M/T Bull Trigger

USDCAD TECHS
Foreign Exchange Technical Analysismarkets-real-timeBulletMarketsForeign Exchange
  • RES 4: 1.3024 38.2% retracement of the Mar ‘20 - Jun ‘21 downleg
  • RES 3: 1.2987 2.0% 10-dma envelope
  • RES 2: 1.2964 High Dec 20 2021 and a key bull trigger
  • RES 1: 1.2914 High May 2
  • PRICE: 1.2852 @ 17:12 BST May 3
  • SUP 1: 1.2719/2664 Low Apr 29 / 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 traded higher Monday and probed resistance at 1.2901, the Mar 8 high. The outlook remains bullish and the strong recovery from Friday’s low of 1.2719 reinforces this theme. A clear break of 1.2901 would reinforce bullish conditions and pave the way for a climb towards the Dec 20 2021 high of 1.2964 - a key medium-term bull trigger. On the downside, first support lies at 1.2719.

138 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 1.3024 38.2% retracement of the Mar ‘20 - Jun ‘21 downleg
  • RES 3: 1.2987 2.0% 10-dma envelope
  • RES 2: 1.2964 High Dec 20 2021 and a key bull trigger
  • RES 1: 1.2914 High May 2
  • PRICE: 1.2852 @ 17:12 BST May 3
  • SUP 1: 1.2719/2664 Low Apr 29 / 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 traded higher Monday and probed resistance at 1.2901, the Mar 8 high. The outlook remains bullish and the strong recovery from Friday’s low of 1.2719 reinforces this theme. A clear break of 1.2901 would reinforce bullish conditions and pave the way for a climb towards the Dec 20 2021 high of 1.2964 - a key medium-term bull trigger. On the downside, first support lies at 1.2719.