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Resistance Remains Intact

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.3751 High Nov 4
  • RES 3: 1.3705 Dec 16 and the bull trigger
  • RES 2: 1.3665 High Jan 6
  • RES 1: 1.3521 High Jan 19 and key short-term resistance
  • PRICE: 1.3333 @ 16:42 GMT Jan 31
  • SUP 1: 1.3300 Low Jan 30
  • SUP 2: 1.3226 Low Nov 15 and bear trigger
  • SUP 3: 1.3205 61.8% retracement of the Aug 11 - Oct 13 rally
  • SUP 4: 1.3131 0.764 proj of the Oct 13 - Nov 15 - Dec 16 price swing

USDCAD bearish trend conditions remain intact as Monday’s gains were erased into the Tuesday close. The move lower last week resulted in a print below 1.3322. A clear break of this level would strengthen bearish conditions and signal scope for weakness towards 1.3226, the Nov 13 low and the bear trigger. Moving average studies are in a bear mode position, highlighting a downtrend. On the upside, the pair needs to clear 1.3521, the Jan 19 high, to signal a reversal.

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  • RES 4: 1.3751 High Nov 4
  • RES 3: 1.3705 Dec 16 and the bull trigger
  • RES 2: 1.3665 High Jan 6
  • RES 1: 1.3521 High Jan 19 and key short-term resistance
  • PRICE: 1.3333 @ 16:42 GMT Jan 31
  • SUP 1: 1.3300 Low Jan 30
  • SUP 2: 1.3226 Low Nov 15 and bear trigger
  • SUP 3: 1.3205 61.8% retracement of the Aug 11 - Oct 13 rally
  • SUP 4: 1.3131 0.764 proj of the Oct 13 - Nov 15 - Dec 16 price swing

USDCAD bearish trend conditions remain intact as Monday’s gains were erased into the Tuesday close. The move lower last week resulted in a print below 1.3322. A clear break of this level would strengthen bearish conditions and signal scope for weakness towards 1.3226, the Nov 13 low and the bear trigger. Moving average studies are in a bear mode position, highlighting a downtrend. On the upside, the pair needs to clear 1.3521, the Jan 19 high, to signal a reversal.