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USDCAD TECHS: Monitoring Support

USDCAD TECHS
USForeign Exchange Technical AnalysisCanadaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.5000 Psychological round number 
  • RES 3: 1.4948 High Mar 2003  
  • RES 2: 1.4814 High Apr 2003
  • RES 1: 1.4600/1.4793 Round number resistance / High Feb 3    
  • PRICE: 1.4345 @ 08:01 GMT Feb 10  
  • SUP 1: 1.4270 Low Feb 5
  • SUP 2: 1.4261 Low Jan 20 and a key support
  • SUP 3: 1.4178 High Nov 6 ‘24
  • SUP 4: 1.4120 Low Dec 11

USDCAD is trading close to last week’s lows. For now, the latest move down appears corrective and the primary uptrend remains intact. The Feb 3 cycle high reinforces and strengthens bullish conditions. The break higher confirmed a resumption of the uptrend and opens 1.4814 next, the Apr 2003 high. Key support to watch lies at 1.4261, the Jan 20 low. A clear breach of this level would alter the picture and signal a reversal. 

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  • RES 4: 1.5000 Psychological round number 
  • RES 3: 1.4948 High Mar 2003  
  • RES 2: 1.4814 High Apr 2003
  • RES 1: 1.4600/1.4793 Round number resistance / High Feb 3    
  • PRICE: 1.4345 @ 08:01 GMT Feb 10  
  • SUP 1: 1.4270 Low Feb 5
  • SUP 2: 1.4261 Low Jan 20 and a key support
  • SUP 3: 1.4178 High Nov 6 ‘24
  • SUP 4: 1.4120 Low Dec 11

USDCAD is trading close to last week’s lows. For now, the latest move down appears corrective and the primary uptrend remains intact. The Feb 3 cycle high reinforces and strengthens bullish conditions. The break higher confirmed a resumption of the uptrend and opens 1.4814 next, the Apr 2003 high. Key support to watch lies at 1.4261, the Jan 20 low. A clear breach of this level would alter the picture and signal a reversal.