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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.
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Free AccessMNI POLITICAL RISK ANALYSIS - Week Ahead 9-15 Dec
MNI US MARKETS ANALYSIS - AUD/JPY Finds Bottom on China News
Support Holds For Now
- 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: 1.3722 @ 16:53 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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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.