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- RES 4: 1.3410 50-day EMA
- RES 3: 1.3355 High Jun 15
- RES 2: 1.3311 20-day EMA
- RES 1: 1.3270 High Jun 20
- PRICE: 1.3157 @ 16:01 BST Jun 26
- SUP 1: 1.3136 Low Jun 26
- SUP 2: 1.2992 50.0% retracement of the Jun - Oct 2022 bull rally
- SUP 3: 1.2954 Low Sep 13 2022
- SUP 4: 1.2895 Low Aug 25
USDCAD is trading closer to last week’s lows and a downtrend remains intact. Fresh trend lows last week strengthens bearish conditions and maintains the price sequence of lower lows and lower highs. Moving average studies are in a bear-mode position, highlighting current sentiment. Scope is seen for a move towards 1.2992, a Fibonacci retracement. On the upside, firm resistance is seen at 1.3311, the 20-day EMA.
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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.