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Free AccessRemains Below Trendline Resistance
- RES 4: 1.3855 High Oct 21
- RES 3: 1.3808 High Nov 3 and a key resistance
- RES 2: 1.3571 High Nov 10
- RES 1: 1.3646 High Nov 29
- PRICE: 1.3467 @ 20:46 GMT Dec 2
- SUP 1: 1.3383 Low Nov 28
- SUP 2: 1.3317/3226 Low Nov 24/25 / Low Nov 15 and bear trigger
- SUP 3: 1.3205 61.8% retracement of the Aug 11 - Oct 13 rally
- SUP 4: 1.3139 Low Sep 14
Last week, USDCAD failed to confirm a clear break of trendline resistance drawn from the Oct-13 high. The trendline intersects at 1.3560. The reversal lower last Wednesday, signals potential for a deeper pullback and this has opened support at 1.3317, the Nov 24/25 low. A breach of this level would expose 1.3226, the Nov 15 low and a bear trigger. Key resistance is at 1.3646, the Nov 29 high. A break is required to reinstate a bullish theme.
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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.