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Heading South

USDCAD TECHS
  • RES 4: 1.3224 High Jul 14
  • RES 3: 1.3188 3.0% Upper Bollinger Band
  • RES 2: 1.3038 High Jul 18
  • RES 1: 1.2904/47 20-day EMA / High Jul 25
  • PRICE: 1.2805 @ 16:42 BST Jul 29
  • SUP 1: 1.2788 61.8% retracement of the Jun 8 - Jul 14 upleg
  • SUP 2: 1.2763 Low Jun 13
  • SUP 3: 1.2685 76.4% retracement of the Jun 8 - Jul 14 upleg
  • SUP 4: 1.2633 2.0% 10-dma envelope

USDCAD maintains a bearish theme and the pair is trading at its recent lows. 1.2819, the Jun 28 low, has been pierced. A clear break of this support would strengthen bearish conditions and extend the move below both the 20- and 50-day EMA values. This would open 1.2763, the Jun 13 low. On the upside, initial resistance to watch is currently at 1.2947, Jul 25 high. A break would ease the current bearish threat.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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