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Remains Vulnerable

DOLLAR-CANADA
  • RES 4: 1.3618/46 50-day EMA / High Jul 14 and key S/T resistance
  • RES 3: 1.3600 High Jul 20
  • RES 2: 1.3537 High Jul 21
  • RES 1: 1.3491 Low Jul 9
  • PRICE: 1.3386 @ 10:45 BST Jul 27
  • SUP 1: 1.3351 Low Jul 23
  • SUP 2: 1.3316 Low Jun 10 and bear trigger
  • SUP 3: 1.3235 Low Feb 24
  • SUP 4: 1.3267 Low Feb 25

USDCAD remains vulnerable. Price action last week cleared key support
at 1.3486, Jun 23 low. This confirmed the end of the broad sideways
move that had dominated since mid-June. The former support at 1.3398
Jun 11 low has also been cleared, reinforcing the bearish threat. The
break lower opens 1.3316, Jun 10 low where clearance would expose
1.3202, Feb 21 low. Resistance is at 1.3491, Jul 9 low.

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