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Resistance Remains Exposed

USDCAD TECHS
  • RES 4: 1.3729 76.4% retracement of the Nov 1 - Dec 27 bear leg
  • RES 3: 1.3661 High Nov 27
  • RES 2: 1.3623 61.8% retracement of the Nov 1 - Dec 27 bear leg
  • RES 1: 1.3614 High Mar 19 and bull trigger
  • PRICE: 1.3600 @ 15:41 GMT Mar 22
  • SUP 1: 1.1.3420 Low Mar 8 and the bear trigger
  • SUP 2: 1.3359 Low Jan 31 and key S/T support
  • SUP 3: 1.3343 Low Jan 12
  • SUP 4: 1.3288 Low Jan 5

USDCAD is trading higher but for now, remains below its recent highs. Key short-term resistance has been defined at 1.3614, the Mar 19 high. A break of this level would confirm a resumption of the uptrend that began on Dec 27. This would expose 1.3623, a Fibonacci retracement, and 1.3661, the Nov 27 high. Key support has been defined at 1.3420, the Mar 8 low. A break would be bearish.

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

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