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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.
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Free AccessRetains Bear Cycle
- RES 4: 1.2648 High Oct 6
- RES 3: 1.2560 50-day EMA
- RES 2: 1.2494 Low Sep 3 and a recent breakout level
- RES 1: 1.2449 High Oct 14
- PRICE: 1.2323 @ 15:48 BST Oct 20
- SUP 1: 1.2303 Low Jul 6
- SUP 2: 1.2253 Low Jun 23
- SUP 3: 1.2229 76.4% retracement of the Jun - Aug rally
- SUP 4: 1.2157 Low Jun 16
USDCAD remains in a bear cycle. Key support at the Jul 30 low of 1.2422 has recently been cleared reinforcing bearish conditions and this signals scope for an extension of the downleg. The break has opened 1.2303 next, Jul 6 low. Note too that moving average conditions appear to be turning bearish, reinforcing the current sentiment. Initial firm resistance is seen at 1.2494, Sep 3 low. A break would ease the current bearish pressure.
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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.