Free Trial

Heading North

USDCAD TECHS
  • RES 4: 1.2949/2981 High Aug 20 / 2.0% 10-dma envelope
  • RES 3: 1.2896 High Sep 20
  • RES 2: 1.2849 High Sep 21
  • RES 1: 1.2846 High Dec 3
  • PRICE: 1.2832 @ 17:31 GMT Dec 3
  • SUP 1: 1.2714 Low Dec 1
  • SUP 2: 1.2641 Low Nov 25 Low Nov 1
  • SUP 3: 1.2580 50-day EMA
  • SUP 4: 1.2493 Low Nov 16

USDCAD is keeping recent highs under pressure. The trend needle continues to point north. Price has recently cleared 1.2753, 76.4% of the Sep 20 - Oct 21 sell-off as well as 1.2775, Sep 29 high. This has strengthened the current bullish set-up and signals scope for a climb towards 1.2896 next, the Sep 20 high. On the downside, a key short-term support has been defined at 1.2641, Nov 25 low. A break of this level would threaten the current trend.

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

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.