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Exposes The March Low

USDCAD TECHS
  • RES 4: 1.2749 High Feb 26 and key resistance
  • RES 3: 1.2700 High Mar 8
  • RES 2: 1.2653 High Apr 21 and the bull trigger
  • RES 1: 1.2491/2527 High Apr 26 / 20-day EMA
  • PRICE: 1.2397 @ 06:50 BST Apr 27
  • SUP 1: 1.2384 Low Apr 26
  • SUP 2: 1.2365 Low Mar 18 and the bear trigger
  • SUP 3: 1.2263 2.0% 10-dma envelope
  • SUP 4: 1.2251 Low Jan 31 2018

USDCAD fell further Monday, reinforcing a bearish theme and narrowing the gap with key support at the March 18th low of 1.2365, which represents the current bear trigger. Clearance of this support would confirm a resumption of broader downtrend that has been in place since March 2020. This would open 1.2251, the Jan 31, 2008 low. Initial resistance is seen at yesterday's high of 1.2491.

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