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USDCAD TECHS
  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3192 1.00 proj of the Apr 5 - May 12 - Jun 8 price swing
  • RES 2: 1.3113 High Nov 23 2020
  • RES 1: 1.3084 High Jul 5 and the bull trigger
  • PRICE: 1.2992 @ 16:29 BST Jul 12
  • SUP 1: 1.2936 Low Jul 8
  • SUP 2: 1.2918 20-day EMA
  • SUP 3: 1.2846/19 50-day EMA / Low Jun 28 and key support
  • SUP 4: 1.2763 Low Jun 13

USDCAD trend conditions remain bullish and the recent pullback is considered corrective. The pair rallied sharply higher on Jul 5, reinforcing short-term bullish conditions. Key support around the 50-day EMA has remained intact - the average intersects at 1.2846. Last week’s climb resulted in a print above resistance at 1.3079, May 17 high and a bull trigger. A clear break would strengthen bullish conditions and open 1.3113, Nov 23 ‘20 high.

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