FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Bulls Remain In The Driver’s Seat

USDCAD TECHS
  • 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: 1.3538 50.0% retracement of the Nov 1 - Dec 27 bear leg
  • PRICE: 1.3520 @ 08:05 GMT Jan 17
  • SUP 1: 1.3343 Low Jan 12
  • SUP 2: 1.3288/3177 Low Jan 5 / Low Dec 27
  • SUP 3: 1.3093 Low Jul 14 and key support
  • SUP 4: 1.3055 2.0% 10-dma envelope

USDCAD continues to climb. This week’s rally has resulted in a move above the 50-day EMA, at 1.3456. The break higher confirms an extension of the corrective bull cycle that started Dec 27 last year and signals scope for 1.3538, a Fibonacci retracement and 1.3608 further out, the Dec 13 high. Support to watch is 1.3343, the Jan 12 low. A reversal lower and a breach of 1.3343 would signal a top.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.