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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.
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Free AccessMNI EUROPEAN MARKETS ANALYSIS: China Equities Lower Post CEWC
MNI EUROPEAN OPEN: Sharp Fall In China Bond Yields Continues
Downtrend Remains Intact
- RES 4: 1.3347 High Aug 12
- RES 3: 1.3276 20-day EMA
- RES 2: 1.3272 High Aug 14 and key near-term resistance
- RES 1: 1.3245 High Aug 20
- PRICE: 1.3181 @ 06:20 BST Aug 26
- SUP 1: 1.3133/19 Low Aug 19 / Low Jan 24
- SUP 2: 1.3057 61.8% retracement of the 2017 - 2020 rally
- SUP 3: 1.3036 Low Jan 22
- SUP 4: 1.2976 Low Jan 8
USDCAD is consolidating but remains bearish. Last week, the pair extended its move lower printing fresh cycle lows at 1.3133 on Aug 19. The downtrend is reinforced by the bearish sequence of lower lows and lower highs that still dominates. Scope is seen for weakness towards 1.3119, Jan 24 low and 1.3057, a Fibonacci retracement. Further out, attention is on the Dec 31 2019 low of 1.2952. Initial resistance is at 1.3245.
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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.