Free Trial

Holding Above Key Support *RES 4:.....>

DOLLAR-CANADA
DOLLAR-CANADA: Holding Above Key Support
*RES 4: 1.3875 2.0% 10-dma envelope
*RES 3: 1.3802 High Jun 1
*RES 2: 1.3703/16 50-day EMA / High Jun 26 and the bull trigger
*RES 1: 1.3700 High Jun 30
*PRICE: 1.3557 @ 19:00 BST Jul 3
*SUP 1: 1.3546 Low Jul 1
*SUP 2: 1.3486 Low Jun 23 and key near-term support
*SUP 3: 1.3398 Low Jun 11
*SUP 4: 1.3316 Low Jun 10 and bear trigger
USDCAD struggled last week to hold onto recent gains. Despite this, a bullish
outlook remains intact following the breach on Jun 26 of resistance at 1.3686,
Jun 15 high. This positive sentiment should hold while support at 1.3486, Jun 23
low remains intact. On the upside, 1.3716, Jun 26 high is the trigger for a
resumption of strength that would open 1.3802, Jun 1 high. Sub 1.3486 levels
would instead expose 1.3398, Jun 11 low.

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.