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- RES 4: 1.3500 Round number resistance
- RES 3: 1.3462 1.618 proj of the Aug 25 - Sep 7 - 13 price swing
- RES 2: 1.3421 High Sep 30 2020
- RES 1: 1.3344/3409 High Sep 19 / 2.0% 10-dma envelope
- PRICE: 1.3257 @ 07:01 BST Sep 20
- SUP 1: 1.3224 High Jul 14 and recent breakout level
- SUP 2: 1.3107/2954 20-day EMA / Low Sep 13
- SUP 3: 1.2895 Low Aug 25 and key near-term support
- SUP 4: 1.2828 Low Aug 17
USDCAD traded higher Monday, resuming the rally that started Sep 13. The pullback from yesterday’s high is considered corrective. The recent break of 1.3224, Jul 14 high and bull trigger, confirms a resumption of the broader uptrend. Attention is on 1.3409 next, the upper band of a moving average envelope. Note that moving average studies are in a bull mode set-up, highlighting positive market sentiment. Key trend support is at 1.2954.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.