MNI China Daily Summary: Monday, January 6

MNI: UK FINAL DEC SRVICES PMI 51.1 (FLASH 51.4); NOV 50.4

MNI INTERVIEW2: China Central Gov Should Buy Unsold Houses

MNI China Press Digest Jan 6: PBOC Bills, Yuan, Capital Market

MNI: China CFETS Yuan Index Up 0.62% In Week of Jan 3

MNI: PBOC Net Drains CNY75.0 Bln via OMO Monday

MNI: EUROZONE FINAL DEC COMPOSITE PMI 49.6 (FLASH 49.5); NOV 48.3

MNI: GERMANY FINAL DEC SRVCS PMI 51.2 (FLASH 51.0); NOV 49.3

MNI: FRANCE FINAL DEC SRVCS PMI 49.3 (FLASH 48.2); NOV 46.9

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCAD TECHS: Bull Flag Highlights A Clear Uptrend

USDCAD TECHS
USForeign Exchange Technical AnalysisCanadaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.4669 2.0% 10-dma envelope
  • RES 3: 1.4539 3.382 proj of the Oct 17 - Nov 1 - 6 price swing
  • RES 2: 1.4508 3.236 proj of the Oct 17 - Nov 1 - 6 price swing
  • RES 1: 1.4467 High Dec 19 
  • PRICE: 1.4392 @ 08:03 GMT Jan 3 
  • SUP 1: 1.4336 Low Dec 20  
  • SUP 2: 1.4307/4232 20-day EMA / Low Dec 17 
  • SUP 3: 1.4136 50-day EMA
  • SUP 4: 1.4011 Low Dec 5

USDCAD is unchanged and bulls remain in the driver’s seat. The latest pause appears to be a flag formation - a bullish continuation signal. Note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 1.4508 next, a Fibonacci projection level. Initial firm support to watch lies at 1.4307, the 20-day EMA. A pullback would be considered corrective.

137 words

To read the full story

Close

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.
  • RES 4: 1.4669 2.0% 10-dma envelope
  • RES 3: 1.4539 3.382 proj of the Oct 17 - Nov 1 - 6 price swing
  • RES 2: 1.4508 3.236 proj of the Oct 17 - Nov 1 - 6 price swing
  • RES 1: 1.4467 High Dec 19 
  • PRICE: 1.4392 @ 08:03 GMT Jan 3 
  • SUP 1: 1.4336 Low Dec 20  
  • SUP 2: 1.4307/4232 20-day EMA / Low Dec 17 
  • SUP 3: 1.4136 50-day EMA
  • SUP 4: 1.4011 Low Dec 5

USDCAD is unchanged and bulls remain in the driver’s seat. The latest pause appears to be a flag formation - a bullish continuation signal. Note too that moving average studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on 1.4508 next, a Fibonacci projection level. Initial firm support to watch lies at 1.4307, the 20-day EMA. A pullback would be considered corrective.