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Hits Bull Trigger

USDCAD TECHS
  • RES 4: 1.2881 High Jan 28
  • RES 3: 1.2846 1.236 proj of the Jun 1 - 21 - 23 swing
  • RES 2: 1.2837 2.0% 10-dma envelope
  • RES 1: 1.2818 High Aug 19
  • PRICE: 1.2801 @ 17:17 BST Aug 19
  • SUP 1: 1.2649/2547 Intraday low / 20-day EMA
  • SUP 2: 1.2476 50-day EMA
  • SUP 3: 1.2422/07 Jul 30 low / 50.0% of the Jun 1 - Jul 19 rally
  • SUP 4: 1.2313 61.8% retracement of the Jun 1 - Jul 19 rally

USDCAD traded higher Thursday, extending the recovery from the Jul 30 low and triggering the 1.2807 bull trigger in the process. This opens gains toward 1.2846 initially ahead of the late January highs of 1.2881. Moving average studies remain in a bull mode suggesting an uptrend remains intact. On the downside, key support has been defined at 1.2422, Jul 30 low.

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