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Maintains This Week’s Bullish Theme

USDCAD TECHS
  • RES 4: 1.3224 High Jul 14 and key resistance
  • RES 3: 1.3135 High Jul 15
  • RES 2: 1.2995/3038 3.0% Upper Bollinger Band / High Jul 18
  • RES 1: 1.2985 High Aug 5 and key near-term resistance
  • PRICE: 1.2938 @ 08:05 BST Aug 18
  • SUP 1: 1.2828/2752 Low Aug 17 / 200-dma
  • SUP 2: 1.2728 Low Aug 11 and key support
  • SUP 3: 1.2685 76.4% retracement of the Jun 8 - Jul 14 upleg
  • SUP 4: 1.2596 2.0% 10-dma envelope

USDCAD maintains this week’s bullish theme and the pair is trading higher. A continuation to the upside would expose resistance at 1.2985, the Aug 5 high and the next key short-term resistance. Clearance of this level would strengthen bullish conditions. On the downside, key support has been defined at 1.2728, the Aug 11 low where a break would reinstate a bearish threat and also highlight a breach of the 200-dma.

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  • RES 4: 1.3224 High Jul 14 and key resistance
  • RES 3: 1.3135 High Jul 15
  • RES 2: 1.2995/3038 3.0% Upper Bollinger Band / High Jul 18
  • RES 1: 1.2985 High Aug 5 and key near-term resistance
  • PRICE: 1.2938 @ 08:05 BST Aug 18
  • SUP 1: 1.2828/2752 Low Aug 17 / 200-dma
  • SUP 2: 1.2728 Low Aug 11 and key support
  • SUP 3: 1.2685 76.4% retracement of the Jun 8 - Jul 14 upleg
  • SUP 4: 1.2596 2.0% 10-dma envelope

USDCAD maintains this week’s bullish theme and the pair is trading higher. A continuation to the upside would expose resistance at 1.2985, the Aug 5 high and the next key short-term resistance. Clearance of this level would strengthen bullish conditions. On the downside, key support has been defined at 1.2728, the Aug 11 low where a break would reinstate a bearish threat and also highlight a breach of the 200-dma.