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Bullish Price Structure

  • RES 4: 1.2976 1.00 proj of the Jun 23 - Jul 19 - 30 price swing
  • RES 3: 1.2957 High Dec 21, 2020
  • RES 2: 1.2949 High Aug 20 and the bull trigger
  • RES 1: 1.2896 High Sep 20
  • PRICE: 1.2833 @ 15:46 BST Sep 21
  • SUP 1: 1.2663 20-day EMA
  • SUP 2: 1.2583 Low Sep 10
  • SUP 3: 1.2494 Low Sep 3 and the bear trigger
  • SUP 4: 1.2422 Jul 30 low and a key support

USDCAD maintains a firmer tone and strengthened Monday. The pair continues to display a stronger bullish S/T condition following the recovery from 1.2494, Sep 3 low. Furthermore, MA conditions are in bull mode reinforcing this theme. Monday's gains resulted in a break of resistance at 1.2762, Sep 8 high. This opens the 1.2949 bull trigger, Aug 20 high. Initial support is at 1.2663, the 20-day EMA.

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