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Key Support Still Intact

USDCAD TECHS
  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3192 1.00 proj of the Apr 5 - May 12 - Jun 8 price swing
  • RES 2: 1.3113 High Nov 23 2020
  • RES 1: 1.3084 High Jul 5 and the bull trigger
  • PRICE: 1.3002 @ 07:15 BST Jul 14
  • SUP 1: 1.2936/32 Low Jul 8 / 20-day EMA
  • SUP 2: 1.2858 50-day EMA
  • SUP 3: 1.2819 Low Jun 28 and key support
  • SUP 4: 1.2763 Low Jun 13

USDCAD continues to trade above its most recent lows and importantly from a bullish perspective, remains above support at the 50-day EMA. The average intersects at 1.2858. Broader trend conditions remain bullish after the recent print above resistance at 1.3079, May 17 high and a bull trigger. A clear break would strengthen bullish conditions and open 1.3113, the Nov 23 ‘20 high.

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