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Holding On To This Week’s Gains

USDCAD TECHS
  • RES 4: 1.2964 High Dec 20 2021
  • RES 3: 1.2901/15 High Mar 8 / 2.0% 10-dma envelope
  • RES 2: 1.2871 High Mar 15
  • RES 1: 1.2858 Intraday high
  • PRICE: 1.2834 @ 06:54 BST Apr 28
  • SUP 1: 1.2641 50-day EMA
  • SUP 2: 1.2568 Low Apr 22
  • SUP 3: 1.2459 Low Apr 21
  • SUP 4: 1.2403 Low Apr 5 and a key support

USDCAD remains bullish and is holding on to this week’s gains. The recent break of 1.2676, the Apr 13 high, and the subsequent follow through strengthened a bullish condition. The focus is on 1.2871 next, the Mar 15 high and the next key resistance at 1.2901, the Mar 8 high. On the downside, initial firm support is at 1.2641, the 50-day EMA. A clear break of this area is required to reinstate a bearish theme.

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  • RES 4: 1.2964 High Dec 20 2021
  • RES 3: 1.2901/15 High Mar 8 / 2.0% 10-dma envelope
  • RES 2: 1.2871 High Mar 15
  • RES 1: 1.2858 Intraday high
  • PRICE: 1.2834 @ 06:54 BST Apr 28
  • SUP 1: 1.2641 50-day EMA
  • SUP 2: 1.2568 Low Apr 22
  • SUP 3: 1.2459 Low Apr 21
  • SUP 4: 1.2403 Low Apr 5 and a key support

USDCAD remains bullish and is holding on to this week’s gains. The recent break of 1.2676, the Apr 13 high, and the subsequent follow through strengthened a bullish condition. The focus is on 1.2871 next, the Mar 15 high and the next key resistance at 1.2901, the Mar 8 high. On the downside, initial firm support is at 1.2641, the 50-day EMA. A clear break of this area is required to reinstate a bearish theme.