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Pierces The 50-Day EMA

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.3977 High Oct 13
  • RES 3: 1.3898 High Oct 14
  • RES 2: 1.3805/3862 High Mar 24 / 10 and the bull trigger
  • RES 1: 1.3695 High Mar 28
  • PRICE: 1.3615 @ 16:49 BST Mar 29
  • SUP 1: 1.3560 Low Mar 29
  • SUP 2: 1.3562 / 39 50.0% retracement of the Feb 2 - Mar 10 rally / 50-dma
  • SUP 3: 1.3515 Low Feb 22
  • SUP 4: 1.3442 Low Feb 20 / 21

The current bear cycle in USDCAD remains in play and the pair traded lower again Wednesday. Price has shown below support at the 50-day EMA as well as 1.3560, the 50% retracement for the Feb 2 - Mar 10 rally. A clear break here required to signal scope for a deeper retracement - this would open 1.3515, the Feb 22 low. On the upside, a reversal higher would refocus attention on resistance at 1.3805, the Mar 24 high. The bull trigger is at 1.3862, the Mar 10 high.

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  • RES 4: 1.3977 High Oct 13
  • RES 3: 1.3898 High Oct 14
  • RES 2: 1.3805/3862 High Mar 24 / 10 and the bull trigger
  • RES 1: 1.3695 High Mar 28
  • PRICE: 1.3615 @ 16:49 BST Mar 29
  • SUP 1: 1.3560 Low Mar 29
  • SUP 2: 1.3562 / 39 50.0% retracement of the Feb 2 - Mar 10 rally / 50-dma
  • SUP 3: 1.3515 Low Feb 22
  • SUP 4: 1.3442 Low Feb 20 / 21

The current bear cycle in USDCAD remains in play and the pair traded lower again Wednesday. Price has shown below support at the 50-day EMA as well as 1.3560, the 50% retracement for the Feb 2 - Mar 10 rally. A clear break here required to signal scope for a deeper retracement - this would open 1.3515, the Feb 22 low. On the upside, a reversal higher would refocus attention on resistance at 1.3805, the Mar 24 high. The bull trigger is at 1.3862, the Mar 10 high.