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Monitoring Support At The 50-Day EMA

USDCAD TECHS
  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3272 2.0% 10-dma envelope
  • RES 2: 1.3224 High Jul 14
  • RES 1: 1.3166 3.0% Upper Bollinger Band
  • PRICE: 1.2893 @ 16:34 BST Jul 19
  • SUP 1: 1.2886 Low Jul 19
  • SUP 2: 1.2879 50-day EMA
  • SUP 3: 1.2819 Low Jun 28 and key support
  • SUP 4: 1.2763 Low Jun 13

USDCAD remains below last week’s high. The pair has traded below the 20-day EMA and attention is on support at the 50-day EMA. The average intersects at 1.2879. It represents an important support and a clear break is required to suggest scope for a deeper pullback. The trend condition is bullish and a resumption of gains would refocus attention on 1.3224, the Jul 14 high and the bull trigger.

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