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Bull Rally Extends

  • RES 4: 1.2964 High Dec 20 and a key resistance
  • RES 3: 1.2924 High Dec 22
  • RES 2: 1.2843 76.4% retracement of the Dec 20 - Jan 19 sell-off
  • RES 1: 1.2814 High Jan 6 and a key resistance
  • PRICE: 1.2717 @ 15:08 GMT Jan 28
  • SUP 1: 1.2636/2560 20-day EMA / Low Jan 264
  • SUP 2: 1.2451/48 Low Jan 19 / 76.4% of the Oct - Dec rally
  • SUP 3: 1.2387 Low Nov 10
  • SUP 4: 1.2328 Low Oct 29

USDCAD has maintained a bullish tone again today as the pair continues to extend its recovery from 1.2451, Jan 19 low. Price has cleared the 50-day EMA and the break has resulted in a move through 1.2768, 61.8% of the Dec 20 - Jan 19 sell-off. This opens 1.2843, the 76.4% retracement. On the downside, initial firm support lies at Wednesday’s intraday low of 1.2560. The 20-day EMA, at 1.2636, marks initial support.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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