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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 AccessBreaking Lower
- RES 4: 1.2934 High Dec 22
- RES 3: 1.2850 50-day EMA
- RES 2: 1.2835 High Nov 11 and a key resistance
- RES 1: 1.2799 High Jan 18
- PRICE: 1.2646 @ 17:35 GMT Jan 20
- SUP 1: 1.2606 Low Jan 20
- SUP 2: 1.2603 1.236 proj of Oct 29 - Nov 9 downleg from Nov 13 high
- SUP 3: 1.2586 Low Apr 19, 2018
- SUP 4: 1.2536 1.382 proj of Oct 29 - Nov 9 downleg from Nov 13 high
USDCAD hit a new cycle low print of 1.2606 Wednesday following a slightly hawkish policy statement from the Bank of Canada. This affirms the underlying downtrend with the focus on 1.2603 next, a Fibonacci projection. Moving average studies are in a bear mode reinforcing current trending conditions. On the upside, near-term resistance is located at 1.2835, Jan 11 high. A break of this hurdle is required to signal a short-term reversal and the start of a correction.
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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.