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Approaching Trendline Resistance

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.3805 High Mar 24
  • RES 3: 1.3722 Trendline resistance drawn from the Oct 13 2022 high
  • RES 2: 1.3719 1.0% 10-dma envelope
  • RES 1: 1.3679 High Sep 7
  • PRICE: 1.3673 @ 16:14 BST Sep 7
  • SUP 1: 1.3533/3490 20-day EMA / Low Sep 1
  • SUP 2: 1.3443 50-day EMA
  • SUP 3: 1.3352 Low Aug 7
  • SUP 4: 1.3266 Low Aug 2

USDCAD is trading at this week’s high and the outlook remains bullish. The pair has pierced 1.3655, the May 26 high. A clear break of this level would expose 1.3722, a trendline resistance drawn from the Oct 13 2022 high and represents a key resistance. On the downside, key support has been defined at 1.3490. A reversal lower and a break of this level would signal a short-term top.

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  • RES 4: 1.3805 High Mar 24
  • RES 3: 1.3722 Trendline resistance drawn from the Oct 13 2022 high
  • RES 2: 1.3719 1.0% 10-dma envelope
  • RES 1: 1.3679 High Sep 7
  • PRICE: 1.3673 @ 16:14 BST Sep 7
  • SUP 1: 1.3533/3490 20-day EMA / Low Sep 1
  • SUP 2: 1.3443 50-day EMA
  • SUP 3: 1.3352 Low Aug 7
  • SUP 4: 1.3266 Low Aug 2

USDCAD is trading at this week’s high and the outlook remains bullish. The pair has pierced 1.3655, the May 26 high. A clear break of this level would expose 1.3722, a trendline resistance drawn from the Oct 13 2022 high and represents a key resistance. On the downside, key support has been defined at 1.3490. A reversal lower and a break of this level would signal a short-term top.