Free Trial

Recovers From Recent Lows

USDCAD TECHS
  • RES 4: 1.3077 High May 16 and the bull trigger
  • RES 3: 1.2982 High May 16
  • RES 2: 1.2896 High May 18 and a key resistance
  • RES 1: 1.2718/84 50-day EMA / High May 27
  • PRICE: 1.2694 @ 07:03 BST Jun 10
  • SUP 1: 1.2518 Low Jun 8
  • SUP 2: 1.2459 Low Apr 21
  • SUP 3: 1.2403/02 Low Apr 5 and key support / 2.0% 10-dma env
  • SUP 4: 1.2387 Low Nov 10. 2021

A sharp rally in USDCAD Thursday highlights a potential short-term reversal. Key near-term support has been defined at 1.2518, the Jun 8 low. An extension higher would signal potential for a climb towards resistance at 1.2896, the May 19 high. For bears, a resumption of weakness and a breach of 1.2518 would again expose 1.2459, Apr 21 low and 1.2403 further out, the Apr 5 low and a key support.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.