Free Trial
AUDNZD

Dips Sub 1.0900 Supported

JGBS

Bull Flattening, 30-Year Supply Eyed

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Clears Key Resistance

USDCAD TECHS
  • RES 4: 1.3421 High Sep 30 2020
  • RES 3: 1.3385 2.0% 10-dma envelope
  • RES 2: 1.3338 50.0% retracement of the 2020 - 2021 bear cycle
  • RES 1: 1.3308 High Sep 16
  • PRICE: 1.3282 @ 20:14 BST Sep 16
  • SUP 1: 1.3074/2954 20-day EMA / Low Sep 13
  • 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

A USDCAD bullish theme remains intact and last week’s gains have reinforced this theme. Price has cleared resistance at 1.3209, Sep 7 high and 1.3324, the Jul 14 high and a bull trigger. The break of the latter confirms a resumption of the broader uptrend and opens 1.3338 next, a Fibonacci retracement. Note that MA studies remain in a bull mode set-up, highlighting positive market sentiment. Key trend support is at 1.2954, the Sep 13 low.

139 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 1.3421 High Sep 30 2020
  • RES 3: 1.3385 2.0% 10-dma envelope
  • RES 2: 1.3338 50.0% retracement of the 2020 - 2021 bear cycle
  • RES 1: 1.3308 High Sep 16
  • PRICE: 1.3282 @ 20:14 BST Sep 16
  • SUP 1: 1.3074/2954 20-day EMA / Low Sep 13
  • 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

A USDCAD bullish theme remains intact and last week’s gains have reinforced this theme. Price has cleared resistance at 1.3209, Sep 7 high and 1.3324, the Jul 14 high and a bull trigger. The break of the latter confirms a resumption of the broader uptrend and opens 1.3338 next, a Fibonacci retracement. Note that MA studies remain in a bull mode set-up, highlighting positive market sentiment. Key trend support is at 1.2954, the Sep 13 low.