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- RES 4: 1.2976 1.00 proj of the Jun 23 - Jul 19 - 30 price swing
- RES 3: 1.2957 High Dec 21, 2020
- RES 2: 1.2949 High Aug 20 and the bull trigger
- RES 1: 1.2796/2896 Intraday high / High Sep 20
- PRICE: 1.2655 @ 17:25 BST Sep 23
- SUP 1: 1.2605 50-day EMA
- SUP 2: 1.2583 Low Sep 10
- SUP 3: 1.2494 Low Sep 3 and the bear trigger
- SUP 4: 1.2422 Jul 30 low and a key support
USDCAD has continued to pull away from its recent Sep 20 high of 1.2896. A bullish price structure remains intact though and the current move lower is considered corrective. Support at the 50-day EMA intersects at 1.2605, a clear breach of this average is required to signal scope for a deeper pullback. For bulls, a reversal higher and a resumption of gains would once again refocus attention on the key resistance at 1.2949, Aug 20 high.
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Why MNI
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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.