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Clears The Bull Trigger

USDCAD TECHS
  • RES 4: 1.3173 High Nov 13 2020
  • RES 3: 1.3106 2.0% 10-dma envelope
  • RES 2: 1.3091 High Nov 24 2020
  • RES 1: 1.3037 High May 10
  • PRICE: 1.3018 @ 16:37 BST May 10
  • SUP 1: 1.2914/2814 High May 2 / Low May 6
  • SUP 2: 1.2714/2701 Low May 5 / 50-day EMA
  • SUP 3: 1.2568 Low Apr 22
  • SUP 4: 1.2459 Low Apr 21

USDCAD traded higher again early Tuesday and cleared resistance at 1.2914, the May 2 high, as well as key resistance at 1.2964, the Dec 20 2021 high. The break of the latter level marks an important medium-term bullish technical development and reinforces the broader bullish outlook. This has opened 1.3106 next, the upper band of a moving average envelope. Initial support is seen at 1.2914. Key support lies at 1.2714, the Apr 29 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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