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Bear Threat Still Present

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Fresh YTD High

USDCAD TECHS
  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3247 2.0% 10-dma envelope
  • RES 2: 1.3224 High Jul 14
  • RES 1: 1.3166 3.0% Upper Bollinger Band
  • PRICE: 1.3126 @ 08:14 BST Jul 15
  • SUP 1: 1.2936/32 Low Jul 8
  • SUP 2: 1.2868 50-day EMA
  • SUP 3: 1.2819 Low Jun 28 and key support
  • SUP 4: 1.2763 Low Jun 13

USDCAD surged Thursday and in the process confirmed a clear break of resistance at 1.3084, the Jul 5 high. The break confirms a resumption of the primary uptrend, paving the way for gains towards a vol band based resistance of 1.3247 and the 1.3300 handle further out. Moving average studies remain a bull mode condition, reinforcing the current positive outlook. Key support has been defined at 1.2936, the Jul 8 low.

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