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Flirting With 50-Day EMA Support

USDCAD TECHS
  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3272 2.0% 10-dma envelope
  • RES 2: 1.3224 High Jul 14
  • RES 1: 1.3166 3.0% Upper Bollinger Band
  • PRICE: 1.2878 @ 16:45 BST Jul 20
  • SUP 1: 1.2859 50-DMA
  • SUP 2: 1.2855 Low Jul 20
  • SUP 3: 1.2819 Low Jun 28 and key support
  • SUP 4: 1.2763 Low Jun 13

USDCAD remains below last week’s high. The pair has traded below the 20-day EMA as well as the 50-day EMA now, which represents an important support and a clear break is required to suggest scope for a deeper pullback. The trend condition is bullish and a resumption of gains would refocus attention on 1.3224, the Jul 14 high and the bull trigger.

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  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3272 2.0% 10-dma envelope
  • RES 2: 1.3224 High Jul 14
  • RES 1: 1.3166 3.0% Upper Bollinger Band
  • PRICE: 1.2878 @ 16:45 BST Jul 20
  • SUP 1: 1.2859 50-DMA
  • SUP 2: 1.2855 Low Jul 20
  • SUP 3: 1.2819 Low Jun 28 and key support
  • SUP 4: 1.2763 Low Jun 13

USDCAD remains below last week’s high. The pair has traded below the 20-day EMA as well as the 50-day EMA now, which represents an important support and a clear break is required to suggest scope for a deeper pullback. The trend condition is bullish and a resumption of gains would refocus attention on 1.3224, the Jul 14 high and the bull trigger.