Free Trial

Bull Trigger Topped

USDCAD TECHS
  • RES 4: 1.3078 2.0% 10-dma envelope
  • RES 3: 1.3029 High Nov 25 2020
  • RES 2: 1.2994 High May 9
  • RES 1: 1.2980 2.0% Upper Bollinger Band
  • PRICE: 1.2937 @ 17:32 BST May 9
  • SUP 1: 1.2814 Low May 6
  • SUP 2: 1.2714/2688 Low Apr 29 / 50-day EMA
  • SUP 3: 1.2568 Low Apr 22
  • SUP 4: 1.2459 Low Apr 21

USDCAD traded higher Monday and cleared resistance at 1.2914, the May 2 as well as key resistance at 1.2964, the Dec 20 2021 high. The break here is an important medium-term bullish technical development and opens gains toward 1.3029 initially. Key short-term trend support has been defined at 1.2714, the May 5 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.