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USDCAD TECHS: Fresh Trend High

USDCAD TECHS
USForeign Exchange Technical AnalysisCanadaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.4814 High Apr 2003 
  • RES 3: 1.4690 1.4690 High Jan 2016 and a major resistance
  • RES 2: 1.4677 2.0% 10-dma envelope
  • RES 1: 1.4595 High Jan 30  
  • PRICE: 1.4452 @ 08:12 GMT Jan 31 
  • SUP 1: 1.4380 20-day EMA
  • SUP 2: 1.4274/61 50-day EMA / Low Jan 20 
  • SUP 3: 1.4178 High Nov 26 ‘24 
  • SUP 4: 1.4120 Low Dec 11

USDCAD traded in a volatile manner yesterday. The pair has moved back into its range, however, the high print yesterday does reinforce and strengthen current bullish conditions. A resumption of gains would set the scene for a climb towards major resistance at 1.4690, the Jan 2016 high. On the downside, support to watch is 1.4274, the 50-day EMA, and 1.4261, the Jan 20 low. A breach of both support points would highlight a S/T reversal.

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  • RES 4: 1.4814 High Apr 2003 
  • RES 3: 1.4690 1.4690 High Jan 2016 and a major resistance
  • RES 2: 1.4677 2.0% 10-dma envelope
  • RES 1: 1.4595 High Jan 30  
  • PRICE: 1.4452 @ 08:12 GMT Jan 31 
  • SUP 1: 1.4380 20-day EMA
  • SUP 2: 1.4274/61 50-day EMA / Low Jan 20 
  • SUP 3: 1.4178 High Nov 26 ‘24 
  • SUP 4: 1.4120 Low Dec 11

USDCAD traded in a volatile manner yesterday. The pair has moved back into its range, however, the high print yesterday does reinforce and strengthen current bullish conditions. A resumption of gains would set the scene for a climb towards major resistance at 1.4690, the Jan 2016 high. On the downside, support to watch is 1.4274, the 50-day EMA, and 1.4261, the Jan 20 low. A breach of both support points would highlight a S/T reversal.