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MNI: FED'S POWELL STILL SEES POSSIBLE PATH TO SOFT LANDING

MNI: POWELL: FED PREPARED TO TIGHTEN FURTHER IF APPROPRIATE

FED'S GOOLSBEE: 'YOU CAN'T BACK OUT NOW' ON INFLATION FIGHT

MNI: BAKER HUGHES US RIG COUNT 625; OIL RIGS 505; GAS RIGS 116

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: BOE Long APF Operation on Monday

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

Support Holds For Now

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.4070 1.236 proj of the Sep 19 - Oct 5 - Oct 10 price swing
  • RES 3: 1.4028 2.0% 10-dma envelope
  • RES 2: 1.3977 High Oct 13 2022 and a major resistance
  • RES 1: 1.3855/3899 High Nov 10 / 1 and the bull trigger
  • PRICE: 1.3701 @ 08:07 GMT Nov 20
  • SUP 1: 1.3676/29 50-day EMA
  • SUP 2: 1.3629 Low Nov 6 and trendline drawn from the Jul 14 low
  • SUP 3: 1.3569 50.0% retracement of the Jul 14 - Nov 1 bull phase
  • SUP 4: 1.3417 Low Sep 29

USDCAD remains above last Wednesday’s 1.3655 low and above the 50-day EMA, at 1.3676. The trend outlook is bullish and short-term weakness - for now - appears to be a correction. Furthermore, moving average studies continue to highlight an uptrend. The key support lies at 1.3629, the Nov 6 low. A resumption of gains would open the bull trigger at 1.3899, the Nov 1 high. On the downside, clearance of 1.3629 would be a bearish development.

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  • RES 4: 1.4070 1.236 proj of the Sep 19 - Oct 5 - Oct 10 price swing
  • RES 3: 1.4028 2.0% 10-dma envelope
  • RES 2: 1.3977 High Oct 13 2022 and a major resistance
  • RES 1: 1.3855/3899 High Nov 10 / 1 and the bull trigger
  • PRICE: 1.3701 @ 08:07 GMT Nov 20
  • SUP 1: 1.3676/29 50-day EMA
  • SUP 2: 1.3629 Low Nov 6 and trendline drawn from the Jul 14 low
  • SUP 3: 1.3569 50.0% retracement of the Jul 14 - Nov 1 bull phase
  • SUP 4: 1.3417 Low Sep 29

USDCAD remains above last Wednesday’s 1.3655 low and above the 50-day EMA, at 1.3676. The trend outlook is bullish and short-term weakness - for now - appears to be a correction. Furthermore, moving average studies continue to highlight an uptrend. The key support lies at 1.3629, the Nov 6 low. A resumption of gains would open the bull trigger at 1.3899, the Nov 1 high. On the downside, clearance of 1.3629 would be a bearish development.