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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.
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Free AccessSolid Bounce
- RES 4: 1.2915 High Dec 23
- RES 3: 1.2845/81 High Feb 4 / High Jan 28
- RES 2: 1.2763/42 High Jan 12 / 50-day EMA
- RES 1: 1.2746 High Feb 17
- PRICE: 1.2705 @ 17:17 GMT Feb 26
- SUP 1: 1.2451 Low Feb 16, 2018 Low
- SUP 2: 1.2382 2.0% 10-dma envelope
- SUP 3: 1.2270 Trendline Drawn From May 2015 Low
- SUP 4: 1.2251 2018 Low
USDCAD bounced well into the Friday close, erasing all mid-week weakness that saw prices hit new multi-year lows. The recent move lower is seen as a deep corrective pullback and narrows the gap with key support drawn from the May 2015 low, an uptrendline that crosses at 1.2270. Bears target this level for longer-term losses. To the upside, a break of 1.2881, Jan 28 high is required to reinstate bullish activity. 1.2763 is a firm resistance.
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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.