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Path Of Least Resistance Remains Up

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.4070 1.236 proj of the Sep 19 - Oct 5 - Oct 10 price swing
  • RES 3: 1.4068 2.0% 10-dma envelope
  • RES 2: 1.3977 High Oct 13 2022 and a major resistance
  • RES 1: 1.3899 High Nov 1
  • PRICE: 1.3845 @ 07:53 GMT Nov 2
  • SUP 1: 1.3790 Low Oct 26
  • SUP 2: 1.3739/3634 20- and 50-day EMA values
  • SUP 3: 1.3477 76.4% retracement of the Sep 19 - Oct 5 rally
  • SUP 4: 1.3417 Low Sep 29

The USDCAD trend needle continues to point north and the pair is trading closer to its recent gains. Sights are on 1.3977, the Oct 13 2022 high. Last week’s break of 1.3862, Mar 10 high, strengthens the bullish condition. MA studies are in a bull-mode position too, highlighting an uptrend and reflecting positive market sentiment. On the downside, initial firm support to watch is 1.3739, the 20-day EMA. A pullback would be considered corrective.

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  • RES 4: 1.4070 1.236 proj of the Sep 19 - Oct 5 - Oct 10 price swing
  • RES 3: 1.4068 2.0% 10-dma envelope
  • RES 2: 1.3977 High Oct 13 2022 and a major resistance
  • RES 1: 1.3899 High Nov 1
  • PRICE: 1.3845 @ 07:53 GMT Nov 2
  • SUP 1: 1.3790 Low Oct 26
  • SUP 2: 1.3739/3634 20- and 50-day EMA values
  • SUP 3: 1.3477 76.4% retracement of the Sep 19 - Oct 5 rally
  • SUP 4: 1.3417 Low Sep 29

The USDCAD trend needle continues to point north and the pair is trading closer to its recent gains. Sights are on 1.3977, the Oct 13 2022 high. Last week’s break of 1.3862, Mar 10 high, strengthens the bullish condition. MA studies are in a bull-mode position too, highlighting an uptrend and reflecting positive market sentiment. On the downside, initial firm support to watch is 1.3739, the 20-day EMA. A pullback would be considered corrective.