Free Trial

Breaches Support

  • RES 4: 1.2964 High Dec 20 and a key resistance
  • RES 3: 1.2924 High Dec 22
  • RES 2: 1.2871/2901 High Mar 15 / High Mar 8 and a key resistance
  • RES 1: 1.2747 20-day EMA
  • PRICE: 1.2637 @ 17:56 GMT Mar 17
  • SUP 1: 1.2630 Low Mar 17
  • SUP 2: 1.2587 Low Mar 3
  • SUP 3: 1.2552 76.4% retracement of the Jan 19 - Feb 24 rally
  • SUP 4: 1.2499 Low Jan 21

USDCAD failed to hold onto Tuesday’s gains and the pair traded lower Wednesday. The Mar 11 low of 1.2694 has been breached and the clear break of this level signals potential for a deeper retracement and opens 1.2587, the Mar 3 low. This represents a key near-term support. From a trend perspective, moving averages still highlight a bull cycle. Clearance of 1.2901, Mar 8 high, would signal a resumption of the uptrend.

MNI London Bureau | +44 203-865-3809 |

To read the full story



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.