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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: 1.2400 @ 16:51 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 Monday's high of 1.2491.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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