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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 Remains Present
- RES 4: 1.3224 High Jul 14 and key resistance
- RES 3: 1.3135/3147 High Jul 15 / 3.0% Upper Bollinger Band
- RES 2: 1.3038 High Jul 18
- RES 1: 1.2985 High Aug 5
- PRICE: 1.2857 @ 07:00 BST Aug 9
- SUP 1: 1.2818 Low Aug 4
- SUP 2: 1.2767/63 Low Aug 01 / Low Jun 13
- SUP 3: 1.2685 76.4% retracement of the Jun 8 - Jul 14 upleg
- SUP 4: 1.2596 2.0% 10-dma envelope
The USDCAD outlook remains bearish, despite last week’s recovery from 1.2767, Aug 1 low. The Jun 28 low, at 1.2819, has recently been pierced. A clear break would strengthen bearish conditions and open 1.2763, Jun 13 low and 1.2685, a Fibonacci retracement. On the upside, the break last week of 1.2947, Jul 25 high, appeared to be a positive development. A breach of Friday’s 1.2985 high is required to strengthen the case for bulls.
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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.