Free Trial

TECHS: $1.2776-$1.2805 Resistance.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: $1.2776-$1.2805 Resistance As Recovery Grows
*RES 4: $1.2860 76.4% Fibo of $1.2917-$1.2666
*RES 3: $1.2837 Nov 21 high
*RES 2: $1.2800/05 Hourly congestion Nov 20-21
*RES 1: $1.2776 Nov 22 high
*PRICE: $1.2745 @1720GMT
*SUP 1: $1.2690/95 Hourly support
*SUP 2: $1.2666/73 Nov 10, Nov 23 lows
*SUP 3: $1.2618/24 61.8% of $1.2433-$1.2917, 1% vol band
*SUP 4: $1.2600 Oct 6 high, now support
*COMMENTARY* The rally from the month's earlier $1.2666 low made it to $1.2837
last Tuesday, briefly spiking the Nov 7 high and 61.8% Fibo retrace level at
$1.2820 but shy of $1.2860. Has subsequently retreated, the 76.4% Fibo retrace
at 1.2743 giving way, leaving that Nov 10 low at $1.2666 to protect against a
further $1.2618-$1.2560 fall. Meanwhile, the move back above $1.2748 opens the
way for a $1.2776-$1.2805 recovery.

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.