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Key Support Remains Exposed

USDCAD TECHS
  • RES 4: 1.3224 High Jul 14
  • RES 3: 1.3171/96 3.0% Upper Boll Band / 2.0% 10-dma envelope
  • RES 2: 1.3038 High Jul 18
  • RES 1: 1.2947 High Jul 25
  • PRICE: 1.2857 @ 06:59 BST Jul 27
  • SUP 1: 1.2819 Low Jun 28 and key support
  • SUP 2: 1.2763 Low Jun 13
  • SUP 3: 1.2678 2.0% 10-dma envelope
  • SUP 4: 1.2685 76.4% retracement of the Jun 8 - Jul 14 upleg

USDCAD still appears vulnerable and the pair is trading at its recent lows. 1.2819, the Jun 28 low and the next key support, remains exposed. A break of this level would strengthen bearish conditions and confirm a clear break of both the 20- and 50-day EMA values. This would open 1.2763, the Jun 13 low. On the upside, initial resistance to watch is unchanged at 1.3038. A break would ease the current bearish threat.

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