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Heading South

USDCAD TECHS
  • RES 4: 1.3898 High Oct 14
  • RES 3: 1.3805/3862 High Mar 24 / 10 and the bull trigger
  • RES 2: 1.3745 High Mar 27
  • RES 1: 1.3593/3649 50- and 20-day EMA values
  • PRICE: 1.3540 @ 08:04 BST Mar 31
  • SUP 1: 1.3517/15 100-dma / Low Feb 22
  • SUP 2: 1.3491 61.8% retracement of the Feb 2 - Mar 10 rally
  • SUP 3: 1.3442 Low Feb 20 / 21
  • SUP 4: 1.3404 76.4% retracement of the Feb 2 - Mar 10 rally

The current bear cycle in USDCAD remains in play and the pair continues to weaken. This week’s bearish extension has resulted in a break of the 50-day EMA and 1.3562, the 50% retracement for the Feb 2 - Mar 10 rally. The move lower signals scope for a continuation towards 1.3491, the 61.8% retracement. On the upside, initial firm resistance is seen at 1.3649, the 20-day EMA.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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