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Holding On To Its Recent Gains

USDCAD TECHS
  • RES 4: 1.3805 High Mar 24
  • RES 3: 1.3773 2.0% 10-dma envelope
  • RES 2: 1.3695 High Mar 28
  • RES 1: 1.3651 High Apr 26
  • PRICE: 1.3632 @ 08:05 BST Apr 28
  • SUP 1: 1.3589/27 Low Apr 27 / 20-day EMA
  • SUP 2: 1.3473 Low Apr 21
  • SUP 3: 1.3385/3302 Low Apr 19 / 14 and the bear trigger
  • SUP 4: 1.3275 Low Feb 14

USDCAD maintains a bullish tone and is holding on to its recent gains. A key short-term resistance at 1.3648 has been tested - 61.8% of the Mar 10 - Apr 14 bear leg. A clear break of this level would strengthen bullish conditions and pave the way for a climb towards 1.3773, the top of a moving average envelope study. On the downside, initial firm support is seen at 1.3520, the 20-day EMA.

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