MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Short-Term Reversal

USDCAD TECHS
  • RES 4: 1.2814 High Jan 6 and a key resistance
  • RES 3: 1.2768 50.0% retracement of the Dec 20 - Jan 19 sell-off
  • RES 2: 1.2708 50.0% retracement of the Dec 20 - Jan 19 sell-off
  • RES 1: 1.2702 High Jan 24
  • PRICE: 1.2697 @ 17:09 GMT Jan 24
  • SUP 1: 1.2555 Intraday low
  • SUP 2: 1.2451/48 Low Jan 19 / 76.4% of the Oct - Dec rally
  • SUP 3: 1.2387 Low Nov 10
  • SUP 4: 1.2328 Low Oct 29

USDCAD is firm and appears set to extend its recovery from last week’s 1.2451 low on Jan 19. Price is above the 50-day EMA and the break of this area of resistance at 1.2650 exposes 1.2708 and 1.2768, Fibonacci retracement levels. The strong recovery also threatens the recent bearish theme. On the downside, initial support lies at Monday’s intraday low of 1.2555. Key support has been defined at 1.2451, Jan 19 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
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.