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Key Support Remains Exposed

USDCAD TECHS
  • RES 4: 1.3668 High Apr 28 and a key resistance
  • RES 3: 1.3585 High Jun 1
  • RES 2: 1.3493 50-day EMA
  • RES 1: 1.3457 20-day EMA
  • PRICE: 1.3354 @ 08:12 BST Jun 13
  • SUP 1: 1.3313 Low Jun 09
  • SUP 2: 1.3302 Low Apr 14 and a key near-term support
  • SUP 3: 1.3275 Low Feb 14
  • SUP 4: 1.3187 2.0% 10-dma envelope

USDCAD maintains a softer tone and price is trading at the recent lows. The latest move lower has exposed 1.3302, the Apr 14 low and a key support. Clearance of this level would strengthen bearish conditions and this would open 1.3262, the Feb 2 low which also represents a key support. On the upside, initial firm resistance is at 1.3457, the 20-day EMA. A break of this level is required to ease bearish pressure.

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