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Pullback Considered Corrective

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.4000 Psychological round number
  • RES 3: 1.3977 High Oct 13
  • RES 2: 1.3898 High Oct 14
  • RES 1: 1.3814/3862 High Mar 15 / 10 and the bull trigger
  • PRICE: 1.3714 @ 08:02 GMT Mar 20
  • SUP 1: 1.3652 Low Mar 14
  • SUP 2: 1.3568 50-day EMA
  • SUP 3: 1.3515 Low Feb 22
  • SUP 4: 1.3442 Low Feb 20 / 21

The recent move lower in USDCAD appears to be a correction and this is allowing a recent overbought condition to unwind. Recent gains strengthened a bullish theme. Price has cleared the Dec 16 high of 1.3705 and traded above 1.3800. Scope is seen for gains towards 1.3977, the Oct 13 high. Initial support is seen at 1.3652, the Mar 14 low. Key short-term resistance and the bull trigger is at 1.3862, the Mar 10 high.

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  • RES 4: 1.4000 Psychological round number
  • RES 3: 1.3977 High Oct 13
  • RES 2: 1.3898 High Oct 14
  • RES 1: 1.3814/3862 High Mar 15 / 10 and the bull trigger
  • PRICE: 1.3714 @ 08:02 GMT Mar 20
  • SUP 1: 1.3652 Low Mar 14
  • SUP 2: 1.3568 50-day EMA
  • SUP 3: 1.3515 Low Feb 22
  • SUP 4: 1.3442 Low Feb 20 / 21

The recent move lower in USDCAD appears to be a correction and this is allowing a recent overbought condition to unwind. Recent gains strengthened a bullish theme. Price has cleared the Dec 16 high of 1.3705 and traded above 1.3800. Scope is seen for gains towards 1.3977, the Oct 13 high. Initial support is seen at 1.3652, the Mar 14 low. Key short-term resistance and the bull trigger is at 1.3862, the Mar 10 high.