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Resistance Remains Exposed

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • 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 / 20 / 25 and the bull trigger
  • PRICE: 1.3592 @ 07:59 GMT Mar 28
  • SUP 1: 1.3456/20 Low Mar 21 / 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

A bullish theme in USDCAD remains intact and the pair is trading closer to its recent highs. Key short-term resistance is at 1.3614, the Mar 19 high and a recent congestion level. A clear break of this hurdle 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. On the downside, key support has been defined at 1.3420, the Mar 8 low. A break would be bearish.

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  • 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 / 20 / 25 and the bull trigger
  • PRICE: 1.3592 @ 07:59 GMT Mar 28
  • SUP 1: 1.3456/20 Low Mar 21 / 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

A bullish theme in USDCAD remains intact and the pair is trading closer to its recent highs. Key short-term resistance is at 1.3614, the Mar 19 high and a recent congestion level. A clear break of this hurdle 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. On the downside, key support has been defined at 1.3420, the Mar 8 low. A break would be bearish.