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Bullish Extension

USDCAD TECHS
  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3224 High Jul 14 and key resistance
  • RES 2: 1.3135 High Jul 15
  • RES 1: 1.3108 High Aug 30
  • PRICE: 1.3082 @ 08:12 BST Aug 31
  • SUP 1: 1.2947 20-day EMA
  • SUP 2: 1.2895 Low Aug 25 and key near-term support
  • SUP 3: 1.2828 Low Aug 17
  • SUP 4: 1.2770 Low Aug 15

USDCAD traded higher again Tuesday. This confirms an extension of recent gains and maintains the current bullish theme. The latest move higher has resulted in a break above resistance at 1.3063, Aug 23 high. The move strengthens bullish conditions and opens 1.3135 next, the Jul 15 high. Note that moving average studies are in a bull mode set-up, highlighting an uptrend. Initial firm support is at 1.2895. A break would alter the picture.

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  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3224 High Jul 14 and key resistance
  • RES 2: 1.3135 High Jul 15
  • RES 1: 1.3108 High Aug 30
  • PRICE: 1.3082 @ 08:12 BST Aug 31
  • SUP 1: 1.2947 20-day EMA
  • SUP 2: 1.2895 Low Aug 25 and key near-term support
  • SUP 3: 1.2828 Low Aug 17
  • SUP 4: 1.2770 Low Aug 15

USDCAD traded higher again Tuesday. This confirms an extension of recent gains and maintains the current bullish theme. The latest move higher has resulted in a break above resistance at 1.3063, Aug 23 high. The move strengthens bullish conditions and opens 1.3135 next, the Jul 15 high. Note that moving average studies are in a bull mode set-up, highlighting an uptrend. Initial firm support is at 1.2895. A break would alter the picture.