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Northbound

USDCAD TECHS
  • RES 4: 1.2737 High Mar 5
  • RES 3: 1.2653 High Apr 21 and a key resistance
  • RES 2: 1.2649 2.0% 10-dma envelope
  • RES 1: 1.2590 High Jul 8
  • PRICE: 1.2471 @ 16:20 BST Jul 9
  • SUP 1: 1.2423 Low Jul 7
  • SUP 2: 1.2303/2253 Low Jul 6 / Low Jun 23 and a key support
  • SUP 3: 1.2157 Low Jun 16
  • SUP 4: 1.2057 Low Jun 7

USDCAD maintains a bullish theme and the pair traded higher Thursday, breaching resistance at 1.2487 in the process, the Jun 21 high. The break confirms a resumption of the uptrend that started Jun 1 and also confirms a bullish price sequence of higher highs and higher lows. MA studies are in a bull mode condition. Scope is seen for a climb towards 1.2653, Apr 21 high and an important resistance. Firm trend support lies at 1.2253, Jun 23 low.

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