Free Trial

Shows Above 50-Day EMA

USDCAD TECHS
  • RES 4: 1.3808 High Nov 3 and a key resistance
  • RES 3: 1.3684 Trendline resistance drawn from the Oct 13 high
  • RES 2: 1.3571 High Nov 10
  • RES 1: 1.3481 High Nov 21
  • PRICE: 1.3477 @ 15:43 GMT Nov 21
  • SUP 1: 1.3226 Low Nov 15
  • SUP 2: 1.3205 61.8% retracement of the Aug 11 - Oct 13 rally
  • SUP 3: 1.3139 Low Sep 14
  • SUP 4: 1.3023 76.4% retracement of the Aug 11 - Oct 13 rally

USDCAD bounced Monday, putting prices north of the 50-day EMA resistance on an intraday basis. A firm break and close above these levels would work against the previous bearish outlook, with the current corrective cycle keeping prices above its recent lows. Resistance to watch is at 1.3571, the Nov 10 high. A break would signal scope for a stronger recovery and this would open 1.3684, trendline resistance. On the downside, key support and the bear trigger has been defined at 1.3226, the Nov 15 low. A break would resume bearish activity.

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.