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US TSY 29Y-10M BOND AUCTION: NON-COMP BIDS $7 MLN FROM $24.000 BLN TOTAL
MNI BRIEF: Fed's Harker Says No Reason to Withdraw Support Yet
MNI BRIEF: Fed's Harker Says No Reason to Withdraw Support Yet
MNI BRIEF: BOE Chief Economist Haldane Stepping Down
MNI BRIEF: All Fed Eyes On US CPI Data
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- RES 4: 1.2915 High Dec 23
- RES 3: 1.2845/81 High Feb 4 / High Jan 28
- RES 2: 1.2763 High Feb 12
- RES 1: 1.2749 High Feb 26 and the bull trigger
- PRICE: 1.2655 @ 06:45 GMT Mar 9
- SUP 1: 1.2576 Low Mar 4
- SUP 2: 1.2468/51 Low Feb 25 / Low Feb 16, 2018 Low
- SUP 3: 1.2384 2.0% 10-dma envelope
- SUP 4: 1.2276 Trendline Drawn From May 2015 Low
USDCAD is consolidating. A firmer short-term tone remains in place following the recovery from 1.2468, Feb 25 low. Recent gains have so far stalled at the 50-day EMA, currently at 1.2727. A clear breach of the average would signal scope for stronger recovery towards 1.2881, Jan 28 high. On the downside, a weakness through 1.2468 would resume bearish pressure towards support drawn off the May 2015 low, a trendline that intersects at 1.2277 this week.