Free Trial
US TSYS

Breakevens Support The Bid On Wednesday

AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

AUSSIE 3-YEAR TECHS

(U2) Back Above Bear Trigger

AUSSIE 3-YEAR TECHS

(U2) Back Above Bear Trigger

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Remains Above The 50-Day EMA

USDCAD TECHS
  • RES 4: 1.3061 2.0% 10-dma envelope
  • RES 3: 1.3024 38.2% retracement of the Mar ‘20 - Jun ‘21 downleg
  • RES 2: 1.2964 High Dec 20 2021 and a key bull trigger
  • RES 1: 1.2914 High May 2 and the bull trigger
  • PRICE: 1.2887 @ 17:28 BST May 6
  • SUP 1: 1.2714/2681 Low Apr 29 / 50-day EMA
  • SUP 2: 1.2568 Low Apr 22
  • SUP 3: 1.2459 Low Apr 21
  • SUP 4: 1.2403 Low Apr 5 and a key support

USDCAD extended the bounce of the Thursday lows into the Friday close. This confirms the week’s initial pullback as corrective and the broader trend needle continues to point north. Key short-term support lies at the 50-day EMA, at 1.2681, where a break is required to suggest potential for a deeper sell-off. Monday’s high print of 1.2914 reinforced bullish conditions. A resumption of gains would refocus attention on this key short-term resistance and the next bull trigger.

152 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • RES 4: 1.3061 2.0% 10-dma envelope
  • RES 3: 1.3024 38.2% retracement of the Mar ‘20 - Jun ‘21 downleg
  • RES 2: 1.2964 High Dec 20 2021 and a key bull trigger
  • RES 1: 1.2914 High May 2 and the bull trigger
  • PRICE: 1.2887 @ 17:28 BST May 6
  • SUP 1: 1.2714/2681 Low Apr 29 / 50-day EMA
  • SUP 2: 1.2568 Low Apr 22
  • SUP 3: 1.2459 Low Apr 21
  • SUP 4: 1.2403 Low Apr 5 and a key support

USDCAD extended the bounce of the Thursday lows into the Friday close. This confirms the week’s initial pullback as corrective and the broader trend needle continues to point north. Key short-term support lies at the 50-day EMA, at 1.2681, where a break is required to suggest potential for a deeper sell-off. Monday’s high print of 1.2914 reinforced bullish conditions. A resumption of gains would refocus attention on this key short-term resistance and the next bull trigger.