Trial now
US

NASDAQ Open Friday & Monday

FED

Fed Board Offices Closed Friday

USDCAD TECHS

Trading Well Above The 50-Day EMA

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

  • RES 4: 112.165 High Mar 25 and the bull trigger
  • RES 3: 112.150 High Apr 8
  • RES 2: 112.120 High Apr 22 and key short-term resistance
  • RES 1: 112.110 High May 4, 5 and 6
  • PRICE: 112.095 @ 05:17 BST May 7
  • SUP 1: 112.060/055 Congestion support in Mar and Apr / Low Apr 3
  • SUP 2: 112.053 50.0% retracement of the Feb 26 - Mar 25 rally
  • SUP 3: 112.026 61.8% retracement of the Feb 26 - Mar 25 rally
  • SUP 4: 111.993 76.4% retracement of the Feb 26 - Mar 25 rally

Schatz futures, while firmer this week, remain below the 112.120 resistance, Apr 22 high and recent gains are still considered a correction. A resumption of weakness would refocus attention on key support at 112.060, a level that provided support in March and April but was probed Monday. A clear break would strengthen a bearish case and open 112.053 and 112.026, Fibonacci retracements. On the upside, a breach of 112.120 alters the picture.