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Bull Cycle Remains In Play

USDCAD TECHS
  • RES 4: 1.3977 High Oct 13 ‘22 and a key M/T resistance
  • RES 3: 1.3899 High Nov 1 and a key resistance
  • RES 2: 1.3855 High Nov 10 2023
  • RES 1: 1.3846 High Apr 16
  • PRICE: 1.3795 @ 16:10 BST Apr 17
  • SUP 1: 1.3682 Low Apr 12
  • SUP 2: 1.3634 20-day EMA
  • SUP 3: 1.3569 50-day EMA
  • SUP 4: 1.3478 Low Apr 4

USDCAD bulls remain in the driver’s seat and last week’s break higher together with this week’s gains, reinforce current conditions. The pair has cleared resistance and congestion at 1.3614, the Mar 19, 22, 25 and 29 high. Sights are on 1.3855 next, the Nov 10 ‘23 high. Note that moving average studies are in a bull-mode position, highlighting a clear rising trend. Initial firm support lies at 1.3634, the 20-day EMA.

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  • RES 4: 1.3977 High Oct 13 ‘22 and a key M/T resistance
  • RES 3: 1.3899 High Nov 1 and a key resistance
  • RES 2: 1.3855 High Nov 10 2023
  • RES 1: 1.3846 High Apr 16
  • PRICE: 1.3795 @ 16:10 BST Apr 17
  • SUP 1: 1.3682 Low Apr 12
  • SUP 2: 1.3634 20-day EMA
  • SUP 3: 1.3569 50-day EMA
  • SUP 4: 1.3478 Low Apr 4

USDCAD bulls remain in the driver’s seat and last week’s break higher together with this week’s gains, reinforce current conditions. The pair has cleared resistance and congestion at 1.3614, the Mar 19, 22, 25 and 29 high. Sights are on 1.3855 next, the Nov 10 ‘23 high. Note that moving average studies are in a bull-mode position, highlighting a clear rising trend. Initial firm support lies at 1.3634, the 20-day EMA.