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USDCAD TECHS

Doji Candle Pattern Highlights Bullish Reversal

US TSYS

10YY Well Below 3.0%

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USDCAD TECHS
  • RES 4: 1.2778 High Mar 16
  • RES 3: 1.2699 High Mar 17
  • RES 2: 1.2654 50-day EMA
  • RES 1: 1.2593/2601 High Mar 28 / 20-day EMA
  • PRICE: 1.2505 @ 16:34 GMT Apr 1
  • SUP 1: 1.2430 Low Mar 30
  • SUP 2: 1.2408 1.0% 10-dma envelope
  • SUP 3: 1.2387 Low Nov 10 2021
  • SUP 4: 1.2328 Low Oct 29 2021

USDCAD remains vulnerable. The pair traded through key support at 1.2451 Wednesday - the Jan 19 low. This has reinforced bearish conditions and extends the downtick triggered by the recent break of 1.2552, 76.4% of the Jan 19 - Feb 24 rally. The break lower opens 1.2387 initially ahead of 1.2328. On the upside, initial firm resistance is seen at 1.2601, the 20-day EMA. A break of this average would ease bearish pressure.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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