MNI BRIEF: China Limits, Tightens IPO To Boost Listing Quality

MNI BRIEF: China February New Loans, TSF Pull Back Sharply

MNI BRIEF: China To Strengthen Shareholding Reduction Rules

MNI BRIEF: Net MLF Drain Not Sign Of Tight Liquidity - Paper

MNI: PBOC Conducts CNY387 Bln MLF Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0975 Fri; -4.06% Y/Y

MNI: US FEB INDUSTRIAL PROD +0.1%; CAP UTIL 78.3%

Foreign Investment Inflow Into Public Sector Debt The Highest Since Nov 2021

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Returning Lower

USDCAD TECHS
  • RES 4: 1.2881 High Jan 28
  • RES 3: 1.2807/46 High Jul 19 / 1.236 proj of Jun 1 - 21- 23 swing
  • RES 2: 1.2730 High Jul 20
  • RES 1: 1.2607 High Jul 23
  • PRICE: 1.2499 @ 17:06 BST Aug 05
  • SUP 1: 1.2421 50-day EMA
  • SUP 2: 1.2407 50.0% retracement of the Jun 1 - Jul 19 rally
  • SUP 3: 1.2313 61.8% retracement of the Jun 1 - Jul 19 rally
  • SUP 4: 1.2253 Low Jun 23

USDCAD faded further Thursday, taking out support at the 1.2500 handle, but steering clear of key levels down at the 1.2421 50-day EMA. This reverses the positivity evident in the rise up toward last week's highs at 1.2605, which markets need to top to initiate any further rally. A rise through here opens initial resistance at 1.2607, Jul 23 high. A break of this level would signal the resumption of bullish activity. To the downside, attention is on the 50-day EMA that intersects at 1.2421. A clear breach of the average is needed to strengthen the current downward cycle.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

To read the full story

Close

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.