MNI: PBOC Conducts Net CNY2 Bln Via OMO Mon; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.0947 Mon; -4.91% Y/Y

MNI: China CFETS Yuan Index Up 0.05% In Week of Apr 3

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.0947 MON VS 7.0949

MNI BRIEF: Monetary, Fiscal Policy Need Harmony - Campos Neto

MNI: SWISS MAR UNEMPLOYMENT -2.9% M/M, +17.1% Y/Y

Australia Feb Housing New Loan Commitments +1.5%

MNI BRIEF: Japan Feb Negative Real Wage Widens to -1.3%

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Gains Considered Corrective

USDCAD TECHS
  • RES 4: 1.2924 High Dec 22
  • RES 3: 1.2814 High Jan 6 and a key resistance
  • RES 2: 1.2732 High Jan 7
  • RES 1: 1.2617/21 20-day EMA and Low Dec 31
  • PRICE: 1.2577 @ 06:54 GMT Jan 24
  • SUP 1: 1.2451/48 Low Jan 19 / 76.4% of the Oct - Dec rally
  • SUP 2: 1.2387 Low Nov 10
  • SUP 3: 1.2328 Low Oct 29
  • SUP 4: 1.2288 Low Oct 21 and a key support

USDCAD remains above recent lows. The outlook is bearish and a recent head and shoulders reversal pattern continues to highlight this theme. The recent break of support at 1.2621, Dec 31 low strengthened the case for bears and this focus is on 1.2448, 76.4% of the Oct - Dec rally. A move through this chart point would open 1.2387, the Nov 10 low. Initial resistance is at 1.2617/21, the 20-day EMA and Dec 31 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.