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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.
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Free AccessHolding Above Support
- RES 4: 1.2964 High Dec 20 and a key resistance
- RES 3: 1.2924 High Dec 22
- RES 2: 1.2843 76.4% retracement of the Dec 20 - Jan 19 sell-off
- RES 1: 1.2797/2814 High Jan 28 / High Jan 6 and a key resistance
- PRICE: 1.2691 @ 17:35 GMT Feb 7
- SUP 1: 1.2650 Low Jan 27/Feb 2
- SUP 2: 1.2560 Low Jan 26
- SUP 3: 1.2451/48 Low Jan 19 / 76.4% of the Oct - Dec rally
- SUP 4: 1.2387 Low Nov 10
The USDCAD outlook remains bullish. A positive theme follows the recovery from 1.2451, Jan 19 low. Price has traded above the 50-day EMA and the break has resulted in a move through 1.2768, 61.8% of the Dec 20 - Jan 19 sell-off. This has opened 1.2843, the 76.4% value. Initial firm support lies at 1.2560, Jan 26 low. First support is at 1.2650, Jan 27 and Feb 2 low. A break would highlight a bearish threat.
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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.