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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Bearish Conditions Still Dominate
- RES 4: 1.3399 High Aug 7 and key resistance
- RES 3: 1.3347 High Aug 12
- RES 2: 1.3319 20-day EMA
- RES 1: 1.3272 High Aug 14 and key resistance
- PRICE: 1.3180 @ 18:12 BST Aug 20
- SUP 1: 1.3133/19 Low Aug 19 / Low Jan 24
- SUP 2: 1.3089 3.0% Lower Bollinger Band
- SUP 3: 1.3057 61.8% retracement of the 2017 - 2020 rally
- SUP 4: 1.3002 2.0% 10-dma envelope
USDCAD remains bearish despite Wednesday's recovery. The pair this week extended its downward trajectory printing fresh cycle lows below 1.3200. The downtrend is reinforced by the bearish sequence of lower lows and lower highs that continues to dominate. Scope is seen for a move towards 1.3119, Jan 24 low and 1.3057, a Fibonacci retracement. Further out, the focus is on the Dec 31 2019 low of 1.2952. Resistance is at 1.3272, Aug 14 high.
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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.