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Bullish Outlook

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.3661 High Nov 27
  • RES 3: 1.3623 61.8% retracement of the Nov 1 - Dec 27 bear leg
  • RES 2: 1.3608 High Dec 13
  • RES 1: 1.3542/44 High Jan 17 / Feb 05 and bull trigger
  • PRICE: 1.3505 @ 16:33 GMT Feb 6
  • SUP 1: 1.3440/3359 20-day EMA / Low Jan 31 and key S/T support
  • SUP 2: 1.3343 Low Jan 12
  • SUP 3: 1.3288 Low Jan 5
  • SUP 4: 1.3229 Low Feb 1

USDCAD traded higher Monday, starting the week on a bullish note and in the process tested key short-term resistance at 1.3542, the Jan 17 high. A clear break of this hurdle would confirm a resumption of the bull cycle that started Dec 27 and open 1.3623, 61.8% of the Nov 1 - Dec 27 bear leg. Key support to watch lies at 1.3343, Jan 12 low. A break would be a bearish development. First support lies at 1.3440, the 20-day EMA.

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  • RES 4: 1.3661 High Nov 27
  • RES 3: 1.3623 61.8% retracement of the Nov 1 - Dec 27 bear leg
  • RES 2: 1.3608 High Dec 13
  • RES 1: 1.3542/44 High Jan 17 / Feb 05 and bull trigger
  • PRICE: 1.3505 @ 16:33 GMT Feb 6
  • SUP 1: 1.3440/3359 20-day EMA / Low Jan 31 and key S/T support
  • SUP 2: 1.3343 Low Jan 12
  • SUP 3: 1.3288 Low Jan 5
  • SUP 4: 1.3229 Low Feb 1

USDCAD traded higher Monday, starting the week on a bullish note and in the process tested key short-term resistance at 1.3542, the Jan 17 high. A clear break of this hurdle would confirm a resumption of the bull cycle that started Dec 27 and open 1.3623, 61.8% of the Nov 1 - Dec 27 bear leg. Key support to watch lies at 1.3343, Jan 12 low. A break would be a bearish development. First support lies at 1.3440, the 20-day EMA.