MNI BRIEF: German Economy "Treading Water", Prices Stable -Ifo

MNI BRIEF: China To Release Childcare Subsidies, Boost Income

MNI: ITALY FEB HICP 0.1% M/M, 1.7% Y/Y

MNI BRIEF: PBOC Mulls New Tools Targeting Consumption

MNI BRIEF: China House Prices Up In February

MNI BRIEF: China Data Shows Good Foundation Despite Issues

MNI:US FEB RETAIL SALES +0.2%; EX-MOTOR VEH +0.3%

US FEB RETAIL SALES $722.7B VS JAN $721.3B

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +7.9B CAD IN JAN

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCAD TECHS: Slippage Accelerates

USDCAD TECHS
USForeign Exchange Technical AnalysisCanadaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.5000 Psychological round number 
  • RES 3: 1.4948 High Mar 2003  
  • RES 2: 1.4814 High Apr 2003
  • RES 1: 1.4600/1.4793 Round number resistance / High Feb 3    
  • PRICE: 1.4216 @ 16:32 GMT Feb 13
  • SUP 1: 1.4211 Low Feb 13
  • SUP 2: 1.4178 High Nov 6 ‘24
  • SUP 3: 1.4107 38.2% retracement of the Sep 25 ‘24 - Feb 3 bull cycle
  • SUP 4: 1.4011 Low Dec 5 ‘24 

USDCAD broke lower Thursday, breaking out of a tight trading range this week, to edge to new lows. For now, the latest move down appears corrective and the primary uptrend remains intact. However, the pair has pierced a key support at 1.4261, the Jan 20 low. A clear break of this level would undermine a bullish theme and highlight a stronger reversal. This would open 1.4178, the Nov 26 ‘24 high. For bulls, a reversal higher would refocus attention on 1.4793, the Feb 3 high.

150 words

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.
  • RES 4: 1.5000 Psychological round number 
  • RES 3: 1.4948 High Mar 2003  
  • RES 2: 1.4814 High Apr 2003
  • RES 1: 1.4600/1.4793 Round number resistance / High Feb 3    
  • PRICE: 1.4216 @ 16:32 GMT Feb 13
  • SUP 1: 1.4211 Low Feb 13
  • SUP 2: 1.4178 High Nov 6 ‘24
  • SUP 3: 1.4107 38.2% retracement of the Sep 25 ‘24 - Feb 3 bull cycle
  • SUP 4: 1.4011 Low Dec 5 ‘24 

USDCAD broke lower Thursday, breaking out of a tight trading range this week, to edge to new lows. For now, the latest move down appears corrective and the primary uptrend remains intact. However, the pair has pierced a key support at 1.4261, the Jan 20 low. A clear break of this level would undermine a bullish theme and highlight a stronger reversal. This would open 1.4178, the Nov 26 ‘24 high. For bulls, a reversal higher would refocus attention on 1.4793, the Feb 3 high.