Free Trial

TECHS: $1.2684-$1.2650 Support As.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: $1.2684-$1.2650 Support As Decline Continues
*RES 4: $1.2836 Nov 3 high
*RES 3: $1.2820 Nov 7 high
*RES 2: $1.2775/85 Series hourly highs Nov 3, Nov 6, Nov 8
*RES 1: $1.2745/55 Hourly resistance
*PRICE: $1.2694 @1655GMT
*SUP 1: $1.2684 50% Fibo of $1.2451-$1.2917
*SUP 2: $1.2650/61 1.618 swing $1.2715-$1.2820, 1% vol band
*SUP 3: $1.2629/34 61.8% of $1.2451-$1.2917, Oct 25 low
*SUP 4: $1.2600 Oct 6 high, now support
*COMMENTARY* Still retreating after Tuesday's surge to $1.2820, failed just shy
of the more interesting $1.2834-$1.2836 area. Now with the loss of
$1.2745-$1.2730 support the downside is back under pressure, with the 50% Fibo
level at $1.2684 now protecting against a deeper $1.2650-$1.2629 fall. In the
interim, resistance from $1.2745-$1.2755 but back above $1.2775-$1.2785
currently stands in the way of any near term comeback.

To read the full story

Close

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.