MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

MNI: AUSTRALIA Q3 BIZ INDICATORS INVENTORIES -0.9%

MNI: AUSTRALIA OCT BUILDING APPROVALS +4.2% M/M, +6.1% Y/Y

MNI: AUSTRALIA NOV DWELLING APPROVALS +4.2% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bearish Engulfing Candle Still In Play

USDCAD TECHS
  • RES 4: 1.2783 76.4% retracement of the Mar 8 - Apr 5 bear leg
  • RES 3: 1.2711 61.8% retracement of the Mar 8 - Apr 5 bear leg
  • RES 2: 1.2699 High Mar 17
  • RES 1: 1.2644/76 High Apr 18 / High Apr 13 and a bull trigger
  • PRICE: 1.2574 @ 08:06 BST Apr 19
  • SUP 1: 1.2522 Low Apr 14
  • SUP 2: 1.2479 Low Apr 6
  • SUP 3: 1.2460/2403 1.0% 10-dma envelope / Low Apr 5
  • SUP 4: 1.2387 Low Nov 10 2021

USDCAD remains below last week's high of 1.2676 (Apr 13). The pullback does threaten the recent bull theme and highlights the fact that price has so far failed to remain above the 50-day EMA that intersects at 1.2625 today. Note that last Wednesday’s session appears to be a bearish engulfing candle. If correct, this highlights a reversal. The focus is on 1.2522, Apr 14 low. On the upside, clearance of 1.2676 would be bullish.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

To read the full story

Close

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.