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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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Free AccessBearish Threat
- 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: 1.2646/76 High Apr 19 / High Apr 13 and a bull trigger
- PRICE: 1.2489 @ 16:23 BST Apr 20
- SUP 1: 1.2482 Low Apr 20
- 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 recent move lower does threaten a bullish theme and highlights the fact that price has so far failed to remain above the 50-day EMA, which intersects at 1.2624 today. Note that the Apr 13 session appears to be a bearish engulfing candle. If correct, it highlights a reversal. The focus is on 1.2479, Apr 6 low. On the upside, clearance of 1.2676 would be bullish.
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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.