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Rally Fades, But Strong Weekly Gains

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.3977 High Oct 13 and a key resistance
  • RES 3: 1.3935 2.0% 10-dma envelope
  • RES 2: 1.3898 High Oct 14
  • RES 1: 1.3855 High Oct 21
  • PRICE: 1.3775 @ 16:33 GMT Mar 10
  • SUP 1: 1.3705/3665 High Dec 16 / High Feb 24
  • SUP 2: 1.3596 20-day EMA
  • SUP 3: 1.3521 50-day EMA
  • SUP 4: 1.3442 Low Feb 20 / 21

USDCAD maintains a firmer tone despite fading slightly into the Friday close. The week’s rally has strengthened the bullish theme, however. Price has cleared the bull trigger at the Dec 16 high of 1.3705 and has also traded above 1.3800. Scope is seen for gains towards the 2.0% 10-dma envelope of 1.3935. Initial support is seen at 1.3705, the recent breakout level. A pullback would be considered corrective and would allow an overbought trend condition to unwind.

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  • RES 4: 1.3977 High Oct 13 and a key resistance
  • RES 3: 1.3935 2.0% 10-dma envelope
  • RES 2: 1.3898 High Oct 14
  • RES 1: 1.3855 High Oct 21
  • PRICE: 1.3775 @ 16:33 GMT Mar 10
  • SUP 1: 1.3705/3665 High Dec 16 / High Feb 24
  • SUP 2: 1.3596 20-day EMA
  • SUP 3: 1.3521 50-day EMA
  • SUP 4: 1.3442 Low Feb 20 / 21

USDCAD maintains a firmer tone despite fading slightly into the Friday close. The week’s rally has strengthened the bullish theme, however. Price has cleared the bull trigger at the Dec 16 high of 1.3705 and has also traded above 1.3800. Scope is seen for gains towards the 2.0% 10-dma envelope of 1.3935. Initial support is seen at 1.3705, the recent breakout level. A pullback would be considered corrective and would allow an overbought trend condition to unwind.