Free Trial
CNH

CNY Fixing Sticks To Weaker Bias

AUD

AUD/USD Through Overnight Lows

BOJ

Fixed Rate Operation Offer

AUSSIE BONDS

Catch-Up Bid

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 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.

131 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: 1.3173 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.