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Rally Stops Short of Recent Highs

USDCAD TECHS
  • RES 4: 1.2814 High Jan 6 and a key resistance
  • RES 3: 1.2768 61.8% retracement of the Dec 20 - Jan 19 sell-off
  • RES 2: 1.2708 50.0% retracement of the Dec 20 - Jan 19 sell-off
  • RES 1: 1.2702 High Jan 24
  • PRICE: 1.2683 @ 20:37 GMT Jan 26
  • SUP 1: 1.2555 Low Jan 24
  • SUP 2: 1.2451/48 Low Jan 19 / 76.4% of the Oct - Dec rally
  • SUP 3: 1.2387 Low Nov 10
  • SUP 4: 1.2328 Low Oct 29

USDCAD remains below recent highs. The pair started the week on a firmer note and has extended its recovery from 1.2451, Jan 19 low. Price has traded above the 50-day EMA and the clear break of this average, at 1.2649, has exposed 1.2708 and 1.2768, Fibonacci retracement levels. On the downside, initial support lies at Monday’s intraday low of 1.2555. Key support has been defined at 1.2451, Jan 19 low and marks the bear trigger.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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