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Approaching The 1.4000 Handle

USDCAD TECHS
  • RES 4: 1.4040 76.4% retracement of the 2020 - 2021 bear cycle
  • RES 3: 1.4016 3.382 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 2: 1.4000 Psychological round number
  • RES 1: 1.3977 Intraday high
  • PRICE: 1.3912 @ 15:21 BST Oct 13
  • SUP 1: 1.3715 Low Oct 11
  • SUP 2: 1.3589/03 20-day EMA / Low Oct 4
  • SUP 3: 1.3358 Low Sep 21
  • SUP 4: 1.3337 50-day EMA

USDCAD remains in an uptrend and has traded higher once again today. The latest recovery from 1.3503, Oct 10 high, reinforces bullish conditions and this low represents a key short-term support. Moving average studies continue to highlight an uptrend and positive market sentiment. 1.3838, the Sep 30 high and key resistance has been cleared, confirming a resumption of the broader uptrend. The focus is on the 1.4000 psychological handle.

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