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Impulsive Rally Extends

USDCAD TECHS
  • RES 4: 1.3716 High Jun 26 2020
  • RES 3: 1.3702 2.382 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 2: 1.3651 61.8% retracement of the 2020 - 2021 bear leg
  • RES 1: 1.3582 2.00 proj of the Aug 25 - Sep 7 - 13 price swing
  • PRICE: 1.3481 @ 07:08 BST Sep 23
  • SUP 1: 1.3358 Low Sep 21
  • SUP 2: 1.3194 20-day EMA
  • SUP 3: 1.3058 50-day EMA
  • SUP 4: 1.2954 Low Sep 13

USDCAD maintains a clear bullish tone and the pair traded higher again Thursday. The extension reinforces bullish conditions and maintains the positive price sequence of higher highs and higher lows. Moving average studies are in a bull mode position, highlighting current market sentiment. Sights are set on 1.3582 next, a Fibonacci projection. On the downside, initial firm support is at 1.3194, the 20-day EMA.

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  • RES 4: 1.3716 High Jun 26 2020
  • RES 3: 1.3702 2.382 proj of the Aug 25 - Sep 7 - 13 price swing
  • RES 2: 1.3651 61.8% retracement of the 2020 - 2021 bear leg
  • RES 1: 1.3582 2.00 proj of the Aug 25 - Sep 7 - 13 price swing
  • PRICE: 1.3481 @ 07:08 BST Sep 23
  • SUP 1: 1.3358 Low Sep 21
  • SUP 2: 1.3194 20-day EMA
  • SUP 3: 1.3058 50-day EMA
  • SUP 4: 1.2954 Low Sep 13

USDCAD maintains a clear bullish tone and the pair traded higher again Thursday. The extension reinforces bullish conditions and maintains the positive price sequence of higher highs and higher lows. Moving average studies are in a bull mode position, highlighting current market sentiment. Sights are set on 1.3582 next, a Fibonacci projection. On the downside, initial firm support is at 1.3194, the 20-day EMA.